President John Dramani Mahama
President John Dramani Mahama has outlined a comprehensive vision for economic transformation at the second edition of 2025 Kwahu Business Forum held in Mpraeso in the Eastern Region.
Addressing entrepreneurs, financial leaders, and government officials, President Mahama touched on rebuilding Ghana’s economy through a strong, inclusive financial sector.
Here are six key initiatives President Mahama outlined in his speech to help transform Ghana’s economy.
Role of financial sector in empowering businesses
President Mahama emphasised the need for the financial sector to drive economic growth for all businesses.
“The financial sector is the bloodstream of any economy. Without it, businesses cannot grow, jobs cannot be created, and innovation cannot thrive,” he stated.
He reiterated the need for the financial system to support a broad range of businesses, from roadside vendors to large manufacturers, to build a resilient economy.
Launch of a National Venture Capital Fund
As part of efforts to support youth-and women-led businesses, President Mahama announced plans to launch a national venture capital fund.
“We will 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”, he noted.
The 24-Hour Economy
Addressing his vision for the 24-Hour Economy, President Mahama emphasised that the initiative also aims to create an environment where businesses can operate seamlessly around the clock.
“The future of business in Ghana must be digital, green, and inclusive. We are entering an era where digital infrastructure is just as important as roads and bridges. As part of our 24-Hour Economy strategy, we will establish the necessary conditions, through reliable electricity, efficient logistics, and enhanced public safety, for businesses to operate continuously.
“This will boost productivity, create jobs, and expand opportunities across the country,” he said.
Jobs and Skills compact to align education with industry
He further announced the introduction of a “Jobs and Skills Compact” to align education and training skills with industry demands
“We will provide incentives to companies that create sustainable, decent jobs, and support youth entrepreneurship to unlock the creativity of our young people.
“Our vision is a Ghana where no young person needs to leave their hometown in search of opportunity. Where communities like Mpraeso, Nkawkaw, and Abetifi become hubs of innovation, enterprise, and decent work”, he stated.
Economic recovery with focus on transformation
President Mahama acknowledged the challenges facing the country, including inflation, a weakened cedi, and rising debt, but expressed optimism about Ghana’s path to recovery.
“There are early signs of macroeconomic stabilization: inflation is gradually easing, and with disciplined management, we are restoring a measure of confidence in our economy,” he stated.
Restoration of investor confidence
President Mahama talked about steps to build investor confidence, such as being more transparent and making sure investments follow clear and fair rules.
“We are pursuing a targeted program to restore investor confidence by enhancing transparency, cutting bureaucratic red tape, and promoting a rules-based investment climate.
“We are prioritising 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 noted.
JKB/EB
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