President John Dramani Mahama has unveiled a comprehensive five-point action plan aimed at revitalizing Ghana’s private sector and positioning it as a key driver of economic transformation under his proposed “reset agenda.”
Speaking at the 2025 Kwahu Business Forum held at Mpraeso in the Eastern Region, President Mahama addressed a cross-section of Ghana’s business community, including leaders from the financial and banking sectors.
The event, themed “The Future of Business: The Role of the Financial Sector,” sought to spark dialogue around private sector-led growth and inclusive economic development.
President Mahama emphasized that his vision for Ghana’s economic future is “bold, deliberate, and focused on shared prosperity.”
“Our aim is to restore investor confidence through greater transparency, reduced bureaucratic bottlenecks, and a rules-based investment climate,” he stated.
“But we are also prioritizing homegrown innovation. Ghanaian entrepreneurs must be at the center of our national development agenda.”
He noted that while attracting foreign investment remains important, his administration would focus equally on empowering local businesses to become engines of growth and job creation—particularly in high-impact sectors such as agro-processing, ICT, manufacturing, tourism, renewable energy, and the green economy.
To that end, Mahama announced a targeted five-point action plan to support entrepreneurs and small businesses:
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Expand Access to Affordable Financing
Support through institutions like the Ghana Development Bank and a proposed Women’s Development Bank, alongside partnerships with private financial institutions, to improve credit access. -
Boost SMEs with Tailored Support
Provide small and medium enterprises with targeted financing, tax incentives, and technical assistance to scale operations and create jobs. -
Modernize Business Infrastructure
Upgrade road networks, logistics systems, and digital connectivity to build an enabling environment where businesses can operate efficiently. -
Lower Cost of Borrowing
Implement credit system reforms and promote blended finance instruments to reduce lending rates and enhance affordability for entrepreneurs. -
Refocus the Financial Sector
Restructure the financial industry to prioritize real economic activity over speculative ventures or government debt financing.
In addition to these measures, Mahama revealed plans to launch a National Venture Capital Fund aimed at supporting youth- and women-led businesses.
He also promised regulatory reforms that would incentivize banks and financial institutions to extend credit to the productive sectors of the economy.
“No economy can thrive if large portions of its population remain outside the formal financial system. We will work with banks, fintechs, and mobile money providers to expand access, especially in rural and underserved areas.”
“Financial inclusion will be central to our plan,” Mahama added.
He concluded by reaffirming his administration’s commitment to inclusive growth, asserting that “when businesses succeed, Ghana succeeds.”
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