By: Nana Amoateng Sarkodie Bioh
President John Dramani Mahama has reassured the business community that his government is taking decisive steps to navigate the nation out of its current economic challenges and restore public confidence.
Speaking at the opening of the second Kwahu Business Forum on April 19, 2025, in Mpraeso, Mahama acknowledged the country’s recent economic difficulties, including high inflation, a weakened cedi, elevated debt levels, and declining investor confidence.
“We are all aware of the challenges our country has faced in recent years—soaring inflation, a weakened cedi, rising debt levels, and a decline in investor confidence. These challenges have weighed heavily on businesses and households alike. But I am confident that we are turning a corner,” he stated.
While expressing optimism about early signs of macroeconomic stabilization, the President emphasized that recovery alone is insufficient. He urged Ghanaians to aim for sustainable economic transformation. “There are early signs of macroeconomic stabilization. Inflation is gradually easing, and with disciplined management, we are beginning to restore a measure of confidence in the economy. But we must aim higher—toward transformation,” he said.
Mahama reiterated his administration’s commitment to creating a resilient and inclusive economy, supported by reforms such as the 24-Hour Economy, increased support for SMEs, and strategic investments in infrastructure and human capital. “And this cannot be achieved without a financial sector that works not just for a few, but for every Ghanaian business from the roadside vendor to the export-ready manufacturer,” he added.
Business Forum Highlights
The forum, themed “The Future of Business: The Role of the Financial Sector,” aimed to foster entrepreneurship and support the growth of Ghana’s small and medium enterprises (SMEs). It is a direct response to the government’s vision of expanding Ghana’s private sector capacity, particularly in agro-processing and manufacturing.
Chaired by Akyemfour Asiedu Agyemang III, the opening event attracted business owners, industrialists, investors, start-ups, and major industry players to network and explore avenues for capital raising and leveraging financial products.
Commitment to Investor Confidence
President Mahama outlined a targeted program to restore investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate. He emphasized the need for an economy that is resilient, inclusive, and productive.
The Minister of Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, stated that the government is committed to resetting the country’s economic framework, focusing on creating an enabling environment for private sector growth and investment. “At the Ministry, we are leading the transformation through the Business Regulatory Reform Programme, which coordinates reforms across 50 institutions,” she said.
A Call for Local Empowerment
Minority Leader Alexander Afenyo-Markin highlighted that Ghana’s economic future relies on the strength and agility of its business community. He stressed the importance of empowering local businesses with the capital and confidence they need to grow. “Building a strong and inclusive financial ecosystem is not just an economic imperative but crucial for growth,” he concluded.
The Kwahu Business Forum serves as a vital platform for fostering dialogue and collaboration among stakeholders, aiming to enhance the economic landscape of Ghana.
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