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Ghana’s Economy: Resilient and Ready for Growth – Finance Minister

In a gathering of financial sector representatives, Honourable Mohammed Amin Adam, Minister of Finance, emphasized the importance of collaboration and dialogue in navigating Ghana’s financial landscape. Despite facing challenges, the economy has shown resilience, and efforts to restore it are paying off.

The government has set its sights on creating a viable SME ecosystem, launching the SME Growth and Opportunity Programme on July 16th. This initiative aims to provide technical capacity and financing support to businesses with high-growth potential, with the support of Development Bank Ghana and development partners like the IFC.

The banking sector is crucial to this initiative, and the latest MPC report shows improvements in financial soundness and profitability ratios. Total assets increased by 28.8% to GH¢306.8 billion, and banks reported higher profits for the first four months of 2024.

The Minister encouraged open dialogue and constructive feedback, emphasizing the need for bold vision, pragmatic approach, and united efforts to create a resilient and dynamic economy that benefits every citizen. He urged stakeholders to exhibit constructive development skills to achieve peace and prosperity as Ghana approaches elections.

Together, Ghana can build a stronger, more inclusive, and prosperous future. The Ministry of Finance is committed to transparency, inclusivity, and shared responsibility in shaping economic policies. With teamwork and resolve, Ghana’s economy is ready for growth and success.

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