Sunday, 14 July

We’re working hard to ease cost of doing business – Amin Adam woos investors to support Ghana’s economic recovery

Business
Dr. Adam reassured investors of the government's commitment to fiscal prudence

The Finance Minister, Dr. Mohammed Amin Adam, has extended an invitation to the investor community to support the nation's steady economic recovery, highlighting Ghana's impressive growth trajectory. 

Speaking at a side meeting with Rand Merchant Bank investors during the 2024 African Development Bank Annual Meetings in Nairobi, Kenya, Dr. Adam emphasised Ghana's efforts to create a more business-friendly environment through pragmatic policies and stakeholder engagements.

“Ghana is currently working hard to ease the cost of doing business through pragmatic policies and stakeholder engagements,” the Finance Minister stated.

Dr. Adam reassured investors of the government's commitment to fiscal prudence, especially in the election year, to remain within expenditure limits. This commitment is crucial for the success of Ghana's engagement with the International Monetary Fund (IMF) programme.

“Inflation is trending downwards from 54 percent in 2022 to 25 percent today and is expected to go to 15 percent by the end of the year,” he disclosed.

 “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 continued.

The Finance Minister also highlighted government's deliberate initiatives to support Small and Medium Enterprises (SMEs), which are vital for employment and GDP contribution. 

These 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,” Dr. Adam added.

Dr. Adam was accompanied by the 2nd Deputy Governor of the Bank of Ghana, Mrs. Elsie Addo Awadzi, and officials from the Ministry of Finance, Bank of Ghana, and the Ghana Investment and Infrastructure.

Source: classfmonline.com/Elikem Adiku