Dr. Mohammed Amin Adam, Ghana’s Minister for Finance, has called on the investor community to support the country’s steady economic recovery, highlighting that Ghana’s growth is surpassing projections.
He emphasized that the government is actively working to reduce the cost of doing business through pragmatic policies and stakeholder engagements.
The Minister shared this message during a side meeting with Rand Merchant Bank investors at the ongoing 2024 African Development Bank Annual Meetings in Nairobi, Kenya.
He reaffirmed the Government of Ghana’s strong commitment to maintaining fiscal prudence and adhering to expenditure limits in this election year.
He noted that this approach is driven by the need to fulfill an essential prerequisite for the success of the country’s engagement with the IMF program.
“Inflation is trending downwards from 54 percent in 2022 to 25 percent today and expected to go to 15 percent by the end of the year and as a government, the interest rate has also gone down, we are holding the line in this election year so we don’t overspend,” he disclosed.
He stated that the government has launched targeted programs to support Small and Medium Enterprises, recognizing their role in providing employment and significantly contributing to the country’s GDP.
He mentioned that the support mechanisms include access to finance, market opportunities, digital marketing, and managerial expertise.
“The growth we are looking at requires sustainable investment and that is why we continue to count on your esteemed partnership,” he added.
The Minister was accompanied by Mrs. Elsie Addo Awadzi, the 2nd Deputy Governor of the Bank of Ghana, along with officials from the Ministry of Finance, the Bank of Ghana, and the Ghana Investment and Infrastructure.
