‘Things are a bit better’ – GNCCI CEO on business conditions

The Ghana National Chamber of Commerce and Industry (GNCCI) CEO, Mark Badu-Aboagye, believes business conditions are improving in Ghana, though production costs remain a challenge. Speaking on Joy News’ PM Express Business Edition, Badu-Aboagye noted that falling interest rates, tax measures, and a stable exchange rate have provided some relief.

He described the current economic climate as better compared to previous years, stating that business conditions were relatively good. The 2026 budget was described as largely business-friendly.

Tax relief has benefited both businesses and consumers, while declining interest rates have reduced production costs. Badu-Aboagye acknowledged that single-digit inflation might be partly due to restrained business pricing, adding that businesses have not been increasing prices excessively. However, he clarified that the national average was used for his assessment, and the figure may not reflect every experience. Some regions have inflation rates above the national average.

Exchange rate stability and production costs are significant contributors to the inflation figure, he stated. However, he warned that locally manufactured goods inflation had risen slightly, indicating that business conditions are still not fully improved. Further cost reductions, combined with existing tax relief, could have lowered the cost of locally manufactured goods and reduced inflation.