President John Mahama has outlined a 5-point action plan towards supporting the private sector to enhance their contribution to his government’s reset agenda.
The President disclosed this when he officially opened the Kwahu Business Forum at Mpraeso in the Eastern Region on April 19.
The Forum is under the theme, “The Future of Business: The Role of the Financial Sector.”
Participants are from Ghana’s business community as well as the banking sector.
Addressing participants, President Mahama said, “Our vision for Ghana’s future business landscape is bold and deliberate. We are pursuing
a targeted programme to restore investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate.
“We are prioritizing sectors that can absorb labour and grow our economy sustainably— agro-processing, ICT, manufacturing, tourism, renewable energy, and the green economy. But our focus is not only on attracting foreign investment. We are equally committed to empowering Ghanaians to become owners and drivers of enterprise.”
He enumerated the 5-point action plan to be pursued to assist entrepreneurs as follows:
- We will expand access to affordable financing through the Ghana Development Bank, the Women Development Bank, and partnerships with private financial institutions.
- We will support SMEs with targeted financing, tax incentives, and technical support.
- We will modernize infrastructure—including roads, logistics, and digital connectivity—to create an environment where businesses can thrive.
- We will reduce the cost of borrowing by reforming credit systems and supporting blended finance instruments.
- And we will retool the financial sector to serve the real economy—not just government borrowing or speculative trading.
President Mahama further announced that, “We will also launch a national venture capital fund to support youth- and women-led
businesses, and introduce regulatory reforms that encourage banks and financial institutions to lend to productive sectors of the economy
“Financial inclusion will be at the heart of this agenda. 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,” the President added.
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