By Ghana Eye Report
President John Dramani Mahama has expressed his commitment to empowering Ghanaians to become business owners and drivers of enterprise.
He made the comment on Saturday at the Kwahu Business Forum at Mpraeso, in the Eastern Region (province) under the theme “The future of business: The role of the financial sector.”
According to the President, the financial sector is the bloodstream of any economy, without which businesses cannot grow, jobs cannot be created, and innovation cannot thrive.
President Mahama observed that the vision of his government for Ghana’s future business landscape is bold and deliberate, as a result of which his government is pursuing a targeted programme to restore investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate.
“We are prioritizing sectors that can absorb labour and grow our economy sustainably— agro processing, ICT, manufacturing, tourism, renewable energy, and the green economy. But our focus is not only on attracting foreign investment,” said the Ghanaian leader.
“We are equally committed to empowering Ghanaians to become owners and drivers of enterprise. That is why my government will support the private sector not just with policy, but with
decisive action through expanding access to affordable financing through the Ghana Development Bank, the Women Development Bank, and partnerships with private financial institutions, support SMEs with targeted financing, tax incentives, and technical support, modernize infrastructure—including roads, logistics, and digital connectivity—to create an environment where businesses can thrive”.
He also stressed the commitment of his government to make credit less expensive as well as retool the financial sector to play a major role in the economy.
President Mahama added, “We will reduce the cost of borrowing by reforming credit systems and supporting blended finance instruments, and we will retool the financial sector to serve the real economy, not just government borrowing or speculative trading.”
The president highlighted some of the challenges confronting the country, including soaring inflation, a weakened cedi, rising debt levels, and a decline in investor confidence, but emphasized, “I am confident, and I say this with sincerity that we are turning a corner.”
According to him, there are early signs of macroeconomic stabilization; as inflation is gradually easing, “and with disciplined management, we are restoring a measure of confidence in our economy.”
The Kwahu Business Forum brings together policymakers, business leaders, investors, and development partners under one roof to discuss innovative strategies for driving economic growth through entrepreneurship and enterprise development. Enditem
Source: Ghana Eye Report
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