Ghana's Finance Minister, Dr Cassiel Ato Forson, has assured the country's business community of the government's commitment to sustaining recent economic gains. He urged businesses to increase investment and help drive the country's next phase of growth. This was during an engagement with the Association of Ghana Industries (AGI) and leading industry executives as part of consultations ahead of the 2027 Budget.
Dr Forson encouraged companies to invest with confidence, signalling the government's intention to move the economy beyond stabilisation and towards sustained transformation. He stated that the government would sustain the economic gains made so far. The Finance Minister disclosed that the government's economic transformation blueprint would be unveiled in the 2027 Budget. This blueprint aims to set out a strategy for moving Ghana from economic stability to a more productive and industrialised economy.
At the centre of the plan is a proposed $10 billion investment in strategic sectors over the next four years. The investment is expected to boost domestic production, promote value addition, expand Ghana's exports, and create more jobs. Dr Forson also reiterated the government's intention to reduce the cost of capital to make financing more accessible to businesses and support private-sector expansion.
However, Dr Forson called on the private sector and the wider business community to support efforts to increase domestic revenue mobilisation. According to the Minister, stronger domestic revenue collection would help reduce the government's reliance on borrowing and create greater fiscal space for development. This, he believes, is crucial for achieving the country's economic transformation agenda.
The Association of Ghana Industries (AGI) has commended the government for progress in stabilising the economy. AGI President, Kofi Nsiah-Poku, stressed that the next priority should be industrial growth and job creation. He emphasised the need to convert economic stability into tangible growth for businesses and workers.
The engagement with the AGI and other industry executives forms part of the government's broader consultations with businesses and stakeholders ahead of the 2027 Budget. Industry is expected to play a central role in shaping the country's economic transformation agenda. The government's economic transformation blueprint is expected to be a key driver of this agenda.
The government's efforts to drive economic growth and transformation have been welcomed by the business community. With a clear plan in place, businesses are expected to invest with confidence, driving growth and job creation in the country. The implementation of the economic transformation blueprint will be crucial in achieving the government's goals.
Key points
- The Ghanaian government plans to invest $10 billion in strategic sectors over the next four years.
- The investment aims to boost domestic production, promote value addition, expand exports, and create jobs.
- The government aims to reduce the cost of capital to make financing more accessible to businesses.
