PETROSOL’s CEO urges Ghana to turn economic stability into sustainable growth

The Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael Bozumbil, urged Ghana's government to foster economic stability into sustainable growth during the Ghana National Chamber of Commerce and Industry (GNCCI) 50th Annual General Meeting (AGM) on October 28th, 2026. Bozumbil urged the government to maintain policy consistency, prudent fiscal management, and support for indigenous businesses to nurture a resilient private sector.

He emphasized that economic recovery should not be mistaken for full recovery and that businesses generating jobs, income, and national development are crucial indicators of a strong economy. Bozumbil stressed that government should maintain a predictable policy environment, real budgeting, fiscal discipline, and financial buffers against future shocks.

He lauded the government's alignment with the International Monetary Fund's Policy Coordination Instrument but cautioned against actions reversing the gains made before the 2028 elections. Bozumbil called for stronger support for credible Ghanaian businesses through transparent procurement, effective local-content policies, and finance access.

He encouraged policymakers to listen to indigenous entrepreneurs familiar with the challenges of operating businesses in Ghana. Bozumbil outlined PETROSOL's resilience principles: purpose, quality, credible relationships, financial discipline, and continuous improvement. He stressed that businesses should honor commitments to stakeholders, manage cash flow, invest in staff training, and adapt to market conditions.

Bozumbil encouraged businesses to strengthen balance sheets, improve governance, attract investment, and consider diversification in response to changing markets.