Mahama proposes government–private sector covenant to safeguard macroeconomic stability
President John Dramani Mahama has proposed a formal covenant between government and the private sector aimed at maintaining macroeconomic stability, regulatory clarity, and sustained industrial growth.
Addressing captains of industry, senior government officials, ministers of state, representatives of the Bank of Ghana, the Ghana Investment Promotion Centre (GIPC), and the 24-Hour Economy Authority during the Presidential Dialogue with the Private Sector at Kempinski Hotel Gold Coast City Accra on Monday, 23rd February, 2026 , Mahama stressed that economic turbulence directly impacts businesses and must be decisively managed.
“Tonight, with the private sector gathered here alongside senior government officials, ministers, the Bank of Ghana, GIPC and the 24-Hour Economy Authority, I propose a covenant between us,” the President stated.
He emphasised that government must commit to maintaining stable macroeconomic policies to shield businesses from uncertainty.
“Government must commit to maintaining stable macroeconomic policy. Turbulence in the macroeconomy affects your businesses. Policy instability creates uncertainty, and uncertainty discourages investment,” he said.
President Mahama further underscored the need for regulatory clarity, noting that excessive bureaucracy often stifles enterprise.
“We must maintain regulatory clarity. Regulations must be clear, simple, and not designed to obstruct private business. The role of regulation is to facilitate growth, not frustrate initiative,” he added.
On industrial development, the President called for a comprehensive reform of Ghana’s industrial financing architecture.
“We must look at the whole structure of industrial financing and apply bold reforms. Without accessible and affordable financing, industrial transformation will remain an aspiration rather than a reality,” he stated.
He also pledged firm enforcement of fair trade practices to protect legitimate businesses.
“We must enforce fair trade. Law-abiding businesses cannot compete with unfair practices. Fair Trade Enforcement must be strengthened to ensure a level playing field,” he said.
President Mahama assured the private sector of government’s commitment to improving critical infrastructure to support expansion.
“Government commits to improving infrastructure — our roads, utilities, power and water systems — so that the private sector and industry can expand and thrive,” he noted.
He concluded by promising structured and continuous engagement with industry leaders to remove bottlenecks to growth.
“Government commits to regular consultation with the private sector to resolve the challenges and obstacles that prevent your businesses from growing. Transformation cannot be achieved without partnership,” President Mahama affirmed.
