We will turn the “corner” of the economy- President Mahama purports
President John Dramani Mahama has said that Ghana is on the road to economic recovery.
This follows the stabilization of the macro economy marked by a lower inflation, and stabilized currency.
His Excellency Mahama made this statement speaking at the 2nd edition of Kwahu Business Forum held in Mpraeso on April 19, 2025. The Second Edition of the Kwahu Business Forum is on the theme: “The Future of Business: The Role of The Financial Sector”
“We are all aware of the challenges our country has faced in recent years. Soaring inflation, a weakening cedi, rising debt levels and a decline in investor confidence. These challenges have weighed heavily on businesses and households alike but I am confident and I say this with sincerity that we will turn the corner. There are early signs of macro economic stabilization. Inflation is gradually easing, the currency is stabilizing, and with discipline management, we shall restore a measure of confidence in our economy “ he asserted.
He also mentioned that the incumbent government is prioritizing key sectors including agro processing, ICT, manufacturing, tourism, renewable energy, and the green economy that have the potential to drive economic growth.
“But our focus is not only on attracting foreign investment. We’re equally committed to empowering Ghanaians to become owners and drivers of enterprise, and this is why this government will support the private sector, not just with policy, but with decisive action.”
President John Dramani Mahama further outlined plans to boost businesses in Ghana by creating a thriving business environment. His strategy includes; expanding Access to affordable financing through institutions like the Ghana Development Bank and the proposed Women’s Development Bank, to support entrepreneurs and small businesses, supporting Small and Medium-sized Enterprises (SMEs)*: With targeted financing packages, tax incentives, and technical assistance to help them grow , to reduce costs and improve efficiency for businesses, by reforming credit systems and promoting blended finance instruments to make borrowing more affordable.
“ We will also launch National Venture Capital Fund to support youth- and women-led businesses, and introduce Regulatory Reforms that encourage banks and financial institutions to lending to productive sectors of the economy. And in all this, financial inclusion will be at the heart of this agenda. No economy can grow if its people remain excluded from the formal financial systems. We work with banks, fintechs and mobile money operators to expand access to financial services, particularly in rural and underserved communities.” President disclosed.
