President Mahama unveils vision for private sector at Kwahu Business Forum
President John Dramani Mahama has stated that the government is committed to empowering Ghanaians to become business owners and drivers of enterprises.
"Our focus is not only on attracting foreign investment.
We are equally committed to empowering Ghanaians to become owners and drivers of enterprises.
"That is why my government will support the private sector, not just with policy but with decisive action to inspire growth," the President said.
At the second edition of the Kwahu Business Forum at Mpraeso in the Kwahu South District in the Eastern Region last Saturday, President Mahama said his vision was to build the country's future business landscape through bold and deliberate policies.
The government, he said, was pursuing a targeted programme to restore investor confidence by enhancing transparency, cutting bureaucratic red tape and promoting a rules-based investment climate.
He said this was being pursued by prioritising specific sectors to create jobs and grow the economy sustainably.
Consequently, he stated that the government intended to prioritise investing in sectors such as agro-processing, information communications technology (ICT), manufacturing, tourism, renewable energy and the green economy.
President Mahama said the government would expand access to affordable financing through the Development Bank Ghana, the proposed Women’s Development Bank, and partnerships with private financial institutions.
The government, he said, would further provide support to small and medium enterprises (SMEs) with targeted financing, tax incentives and technical support.
"We will modernise infrastructure, including roads, logistics and digital connectivity, to create an environment where businesses can thrive.
“We will reduce the cost of borrowing by reforming credit systems and supporting blended finance instruments,” he said.
National venture capital
President Mahama stated that his administration would retool the financial sector to serve the real economy through government borrowing or speculative trading.
Consequently, he said, the government would launch a national venture capital fund to support youth and women-led businesses and introduce regulatory reforms that encourage banks and financial institutions to lend to productive sectors of the economy.
"Financial inclusion will be at the heart of this agenda. No economy can grow if its people remain excluded from formal financial systems.
"We will work with banks, fintechs (financial technology companies) and mobile money operators to expand access to financial services, particularly in rural and underserved communities," he said.
24-hour Economy
The President stated that the future of businesses in the country must be digital, green and inclusive.
“We are entering an era where digital infrastructure is as important as roads and bridges.
As part of our 24-hour Economy strategy, we will create the conditions, through reliable electricity, logistics and public safety, for businesses to operate around the clock,” he said.
He added that this was intended to boost productivity, create jobs and expand opportunity across the country.
Parliament’s readiness
The Majority Leader, Mahama Ayariga, said Parliament was ready to support and drive the agenda to ensure growth and to create jobs critical for the country and its economy.
“The various parliamentary committees will support their sector ministers and enterprises that work under those respective sectors of the economy.
“They will support their challenges and fashion appropriate solutions to the problems.
They will also monitor the ministers to ensure that they are delivering according to the promises made to Ghanaians,” he said.
Depoliticise entrepreneurship
The Minority Leader, Alexander Afenyo-Markin, said the political class had a responsibility to depoliticise entrepreneurship by creating an ecosystem where business owners could thrive without fear of being targeted.
“We must celebrate enterprises and actively cultivate an environment where hard work and creativity is rewarded.
Entrepreneurship must not be viewed through political lens; the success of business should not depend on which political regime is in power.
“Our role as political leaders is not to frustrate private sector activists but to foster a fair and enabling environment where merit and innovation thrive,” he added.
The forum
The forum was an initiative of the Chief of Staff, Julius Debrah, who proposed during the 2024 election campaign that then former President and presidential candidate of the National Democratic Congress (NDC), John Mahama, would present his economic policies and programmes to the business community at the Kwahu Easter festivities.
Following the presidential election, which returned President Mahama and the NDC to power, the forum evolved into a national platform in 2025.
This year’s edition was on the theme: “The future of business: The role of the financial sector”.
The two-day forum and exhibition was a major platform for entrepreneurs to engage and form strong partnerships with financial institutions.
It was attended by ministers of state, Members of Parliament, heads of trade facilitation institutions, heads of financial services institutions, and the business community.