President John Dramani Mahama has committed to lead Ghana toward economic revitalization after his official swearing-in on January 7, 2025.
Not only has he promised that but he has also assured to enhance business prospects and make Ghana an investment destination of choice.
During his inaugural speech at the Black Stars Square, President Mahama asserted that restoring economic stability and achieving macroeconomic balance will be the central focus of his administration’s agenda.
The circumstances we find ourselves in are indeed dire. But even so, I will be decisive and swift in my actions. We will focus our initial efforts on four critical areas. It is economic restoration and stabilisation of the macroeconomic environment. The second is the improvement of the business and investment environment”, he said.
The President, outlining his vision to position Ghana for economic prosperity stressed the need for targeted reforms to attract both domestic and international capital.
He has committed to streamline the tax system to enhance transparency and equity, creating a framework that encourages innovation and supports entrepreneurial activity.
We have endured severe economic hardships, moving from one crisis to another in recent years. But there is hope on the horizon”, Mahama added.
Innovation backbone of 24-hour economy
He further identified innovation as one of the critical drivers of his growth economic growth policies.
For President Mahama, establishing a dynamic 24-hour economy and leveraging agriculture and technology as the foundation, he envisions a Ghana operating around the clock – supported by efficient public services and a business environment teeming with opportunities for economic advancement.
“Today marks the beginning of a new opportunity – an opportunity to redefine our governance and economic strategies. Imagine a Ghana bustling at all hours, with responsive public services and opportunities for all”.
Ghana open for business again
President Mahama acknowledged the challenges businesses have faced in recent years and assured stakeholders that his government would prioritize stability, predictability, and an investor-friendly environment to drive economic growth.
“To the business leaders and entrepreneurs, I invite you to support this new model and join me in shaping a business environment where utility thrives and fruits of your investments contribute to the collective welfare of our nation. Your role in driving our economy forward cannot be overstated.”
Your innovation and dedication will be the backbone of our success story. I pledge to you that we will look at the tax regime and rationalise it so that it is more transparent and fair. Members of the business community, I assure you that Ghana is open for business again,” he stressed.
Corruption and governance
Mr. Mahama highlighted governance and constitutional reforms as part of his agenda alongside a steadfast commitment to accountability and combating corruption.
He hammered the importance of tangible actions over rhetoric to express his readiness to implement 26 targeted measures within the first 120 days of his administration to reset public trust and the foundations of Ghana’s economic and social progress.
“The third is governance and constitutional reforms. And the final, but not the least, is accountability and the fight against corruption. We need a reset of faith — in our country, in our institutions, and in ourselves. You are Ghana, I am Ghana.”
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