President John Mahama outlined a sweeping economic reform agenda at the 2025 Kwahu Business Forum, targeting Ghana’s financial sector restructuring and the rollout of a 24-hour economy to spur job creation and inclusive growth.
Speaking to stakeholders in Mpraeso under the theme “The Future of Business: The Role of the Financial Sector,” Mahama acknowledged persistent challenges like inflation, currency volatility, and debt but stressed that stabilization efforts must evolve into systemic transformation.
Central to his plan is redirecting financial sector focus from speculative ventures to productive investments, particularly for SMEs, women-, and youth-led enterprises. Key measures include expanding affordable credit through the Ghana Development Bank and a proposed Women Development Bank, alongside venture capital funds tailored for underserved demographics. Tax incentives, technical support, and infrastructure upgrades aim to lower operational costs for small businesses, while partnerships with fintech firms and mobile money platforms seek to broaden financial inclusion.
Mahama also unveiled a Jobs and Skills Compact to align education with labor market demands, complementing his 24-hour economy initiative designed to boost productivity through reliable infrastructure and round-the-clock services. “Recovery isn’t enough we need an economy that creates opportunities for all,” he stated, pledging stronger public-private collaboration and vowing to combat corruption to foster a transparent governance framework.
The proposal arrives as Ghana navigates a fragile post-debt crisis recovery, with critics highlighting past struggles to rein in fiscal deficits and stabilize the cedi. While SMEs welcome expanded access to credit, analysts caution that success hinges on curbing bureaucratic inefficiencies and ensuring reforms reach rural areas.
The 24-hour economy model, though ambitious, faces infrastructure gaps, particularly in energy and digital connectivity, which have historically hampered scalability. Mahama’s emphasis on gender-responsive financing reflects broader regional trends, yet tangible outcomes will depend on execution amid global economic headwinds. As Ghana eyes sustainable growth, bridging policy promises with grassroots impact remains the pivotal challenge.
