Industry, manufacturing must drive 2027 Budget — Awuah
The Chief Executive Officer of the Ghana Association of Bankers, John Awuah, says lending to the private sector has increased by more than 30 per cent over the past year, but has challenged the government to use the 2027 Budget to stimulate demand for credit by supporting viable businesses and productive sectors.
John Awuah, CEO of the Ghana Association of Bankers, has called for the 2027 Budget to drive industry and manufacturing initiatives. Lending to the private sector has risen by over 30% in the past year, driven by easing interest rates, but he cautioned that the government must prioritize viable businesses and productive sectors.
He pointed out that while banks are actively supporting businesses, the availability of bankable projects remains a concern. Awuah emphasized that industry and manufacturing are crucial areas for investment, as they create employment, increase household incomes, and stimulate demand for goods and services. He suggested that addressing the supply of bankable projects would enable banks to lend more effectively, translating into job creation, higher incomes, and stronger overall economic activity.
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