Omanghana
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has urged local and international businesses to invest with confidence, saying the country is entering a new phase of economic transformation following recent efforts to restore macroeconomic stability.
Dr. Forson made the remarks during a consultative meeting with the leadership of the Association of Ghana Industries (AGI) and leading business executives as the government engages stakeholders ahead of the 2027 Budget.
“Feel free to invest because we will sustain the gains. The golden era for Ghana is beginning, and our new blueprint will be announced in the 2027 Budget,” the Finance Minister said.
He said the government’s focus would now shift from economic stabilisation to transforming the productive capacity of the economy, with greater emphasis on production, value addition, exports and job creation.
2027 Budget to Set Out Transformation Plan
According to Dr. Forson, the 2027 Budget will provide the framework for the next phase of the government’s economic programme.
The Finance Minister said the government intends to protect the improvements made in the macroeconomic environment while creating conditions that allow businesses to expand and invest for the long term.
The government has described this programme as a move beyond stabilisation toward a more productive and resilient economy. The Ministry of Finance says the broader New Economy programme is intended to support job creation, wealth generation and sustainable growth.
President John Dramani Mahama has announced plans for a US$10 billion investment programme covering strategic sectors over the next four years. The government says the programme will support increased production, value addition and job creation, with details expected to be outlined in the 2027 Budget.
Government Targets Lower Cost of Capital
Dr. Forson also highlighted the cost of financing as a major issue for businesses, saying government has taken steps to reduce the cost of capital and will continue working to make financing more accessible.
The objective, he said, is to create an environment in which businesses can expand their operations, increase production and invest in areas capable of generating employment.
The Finance Minister has also called on banks to direct more credit toward productive sectors, including manufacturing, agriculture and processing, exports, technology and businesses that create jobs.
Government Seeks Greater Private-Sector Partnership
The meeting with the AGI formed part of broader consultations between government and the private sector ahead of the 2027 Budget.
AGI President Dr. Kofi Nsiah-Poku acknowledged the progress made in economic stabilisation and said the focus should now turn toward growth, industrial expansion and job creation.
“We are grateful for what you have achieved so far. We now know that we have achieved stability, and it is time for us to grow so that we can create jobs,” Dr. Nsiah-Poku said.
Dr. Forson also appealed to businesses to support domestic revenue mobilisation, arguing that stronger revenue generation would help reduce the government’s reliance on borrowing.
“We need your support to raise the necessary revenue so that the Government does not borrow beyond its means, as we saw in 2022,” he said.
The government has said maintaining fiscal discipline, protecting financial stability and creating an environment conducive to private-sector investment will be central to the next phase of Ghana’s economic program.
Source: Omanghana
