President John Mahama has reaffirmed his administration's commitment to fostering a thriving business environment in Ghana.
Speaking at the Kwahu Business Forum in Mpraeso, Eastern Region, on April 19, he emphasized that his government will prioritize sectors with high labor absorption and sustainable economic growth potential, including agro-processing, ICT, manufacturing, tourism, renewable energy, and the green economy.
"We are pursuing a targeted programme to restore investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate," President Mahama stated. "But our focus is not only on attracting foreign investment. We are equally committed to empowering Ghanaians to become owners and drivers of enterprise."
To achieve this, President Mahama outlined several key initiatives, including expanding access to affordable financing through the Ghana Development Bank and the Women Development Bank, supporting Small and Medium-sized Enterprises (SMEs) with targeted financing, tax incentives, and technical support, and modernizing infrastructure to create a conducive business environment.
"We will reduce the cost of borrowing by reforming credit systems and supporting blended finance instruments," he added. "And we will retool the financial sector to serve the real economy not just government borrowing or speculative trading."
Mahama also highlighted plans to launch a national venture capital fund to support youth- and women-led businesses and introduce regulatory reforms to encourage banks and financial institutions to lend to productive sectors of the economy.
"Financial inclusion will be at the heart of this agenda," he stressed. "No economy can grow if its people remain excluded from formal financial systems. We will work with banks, fintechs, and mobile money operators to expand access to financial services, particularly in rural and underserved communities."
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April 19, 2025
