Invest with confidence, Ghana’s golden era is beginning – Finance Minister

Finance Minister Dr Cassiel Ato Forson has urged businesses to invest with confidence in Ghana, assuring the private sector that government will sustain the gains made in stabilising the economy.

Speaking during a meeting with the leadership of the Association of Ghana Industries (AGI) and leading business executives, Dr Forson said the government’s next phase of economic policy would focus on transforming the economy from one centred on stabilisation to one driven by production, value addition, investment and job creation.

He said details of the government’s new economic transformation blueprint would be outlined in 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,” he said.

Dr Forson said the improvements recorded in the macroeconomic environment would be protected and strengthened as the government moves into the next phase of its economic programme.

That is why the 2027 Budget will move Ghana from stability to transformation,” he stated.

The Finance Minister also pointed to President John Dramani Mahama’s announcement of plans to invest US$10 billion in strategic sectors over the next four years as part of the government’s broader economic transformation agenda.

According to Dr Forson, the investment drive is intended to increase domestic production, promote value addition and create employment opportunities.

We want to produce more, add value and create more jobs for the Ghanaian economy. This means addressing the fundamental challenges we face as a country,” he said.

He said the government’s economic strategy would require greater participation from the private sector, particularly in productive areas capable of supporting economic growth and employment.

Dr Forson further said the government had deliberately taken steps to reduce the cost of capital and would continue working to bring borrowing costs down to support business expansion and investment.

He said maintaining macroeconomic stability was important to creating a more predictable environment for businesses to make long-term investment decisions.

The Finance Minister’s comments come as the government prepares to outline its broader economic transformation programme in the 2027 Budget.

Dr Forson also called on businesses and industry to support government’s domestic revenue mobilisation efforts.

He said stronger domestic revenue collection was necessary to reduce the government’s reliance on excessive borrowing and avoid a recurrence of the fiscal pressures experienced in 2022.

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.

He urged the business community to work with government to strengthen domestic revenue mobilisation while supporting efforts to expand economic activity.

The Finance Minister said the government’s next phase of economic policy would build on the gains from stabilisation, with greater emphasis on production, investment, value addition and job creation.

The 2027 Budget is expected to provide further details of the government’s proposed economic transformation blueprint and the measures it intends to implement to move Ghana from economic stability towards broader transformation.