Mahama: Govt will continue delivering reliable power and sound economic conditions to drive industrial transformation
He assured corporate investors that the government will continue policy interventions to maintain macroeconomic stability and upgrade key infrastructure.
President John Dramani Mahama has emphasized the importance of stable fiscal policies, low inflation, steady foreign exchange rates, and a robust energy system in attracting business confidence for significant capital investment. He affirmed that the government will persist with policy measures to sustain macroeconomic stability and enhance crucial infrastructure.
Speaking at the inauguration of Nestlé Ghana’s upgraded evaporated milk manufacturing line in Tema, Mahama highlighted that foreign capital seeks safety, but thrives in stability and supporting infrastructure. The president reiterated the government's commitment to providing dependable power and favorable economic conditions to spur industrial growth.
Bank of Ghana Governor Dr. Johnson Pandit Asiama discussed the global economic challenges, including geopolitical tensions, rising energy costs, and uncertainties in trade and financing during a recent meeting with bank CEOs. Despite these global headwinds, he noted that global growth remains robust, with the IMF forecasting 3.0 percent growth for 2026.
However, escalating geopolitical tensions and a potential strong El Niño later this year present risks that could lead to higher global yields and tighter financing conditions for countries like Ghana. The domestic economy showed resilience, with a 6.0 percent growth in the services and industry sectors in the second quarter of 2026, slightly below the 6.6 percent in the same period of 2025.
Consumer and business confidence remained high, underpinned by a stable macroeconomic environment and optimism about future growth. While headline inflation rose to 5.0 percent in August, core inflation and expectations continued to decline, keeping it below the 8 ± 2 percent target band set by the Monetary Policy Committee. The MPC decided to keep the Monetary Policy Rate at 14.0 percent, assessing a balanced risk outlook for inflation and growth.
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