President John Dramani Mahama has assured the business community that his government is taking decisive steps to steer the nation out of its current economic challenges and restore public confidence.
Speaking at the opening of the second Kwahu Business Forum on Saturday, April 19, 2025, at Mpraeso in the Kwahu South District of the Eastern Region, President Mahama acknowledged the country’s recent economic difficulties, including high inflation, a weakened cedi, elevated debt levels, and waning 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, and I say this with sincerity, that we are turning a corner,” he stated.
While optimistic about early signs of macroeconomic stabilization, the President emphasized that recovery alone is not enough, and urged Ghanaians to set their sights on 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.”
President Mahama reiterated his administration’s commitment to creating a resilient and inclusive economy, underpinned by reforms and initiatives 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 said.
Business Forum
Speaking on the theme: “The Future of Business: The Role of the Financial Sector”, the forum and exhibition served as a major initiative 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 the agro-processing and manufacturing sectors.
As a non-partisan national development agenda, the Kwahu Business Forum brought together business owners, industrialists, investors, start-ups, and major industry players to network, share experiences, and explore avenues for capital raising and leveraging available financial products.
Chaired by the Kwahu Abetifihene and Adontenhene of the Kwahu Traditional Area, Akyemfour Asiedu Agyemang III, the opening was attended by the Majority Leader, Mahama Ayariga; Minority Leader, Alexander Afenyo-Markin; Minister of Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare; Chief of Staff, Julius Debrah; and Member of Parliament for Abetifi Constituency, Bryan Acheampong.
Targeted Programme
With a vision to build a bold and deliberate business landscape, President Mahama said the government was pursuing a targeted programme aimed at restoring investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate.
He emphasized the need to build an economy that is resilient, inclusive, and productive.
Enabling Environment
The Minister stated that the government is committed to resetting the country’s economic framework, with a special focus on creating an enabling environment responsive to private sector growth and investment in strategic sectors.
He stressed the importance of aligning the financial system with national development priorities to support entrepreneurship, industrialization, and inclusive economic growth.
“At the Ministry, we are leading the transformation through the Business Regulatory Reform Programme, a cross-cutting initiative that coordinates reforms across 50 institutions, including MMDAs, private sector associations, professional bodies, and other key stakeholders,” he said.
Economic Future
For his part, the Minority Leader, Mr. Alexander Afenyo-Markin, said Ghana’s economic future will largely depend on the strength, agility, and resilience of its business community, and the strategic role of the financial sector in supporting local businesses to scale and succeed.
“When we empower local businesses with the capital and confidence they need, they will grow. We need to do more to boost productivity. This will open pathways for job creation, which remains one of our most urgent national challenges. Building a strong and inclusive financial ecosystem is not just an economic imperative but a crucial factor for growth,” he said.
Source: Graphic Online
