From fiscal recovery to job creation, Ghana intends to convert its economic upturn into productive investments. President John Dramani Mahama has announced a 10 billion dollar program over 5 years, equivalent to 2 billion dollars per year, aimed at transforming 9 sectors of the national economy.
This initiative, part of the New Economy Policy project, is expected to be detailed in the 2027 budget. Agriculture, textiles, apparel, the pharmaceutical industry, and tourism are among the targeted sectors.
The goal is to increase local production capacities, foster business expansion, and multiply employment opportunities. The Ghanaian president assures that the program will be financed without new borrowing, asserting his intention to rely on the country's own resources.
This ambition relies notably on improving financing conditions for the economy. According to John Dramani Mahama, the reduction in public borrowing has contributed to a decline in Treasury bill yields by approximately 29% to 7%.
This easing should encourage banks to prioritize credit to private companies, with rates mentioned around 13%, to support their investments and recruitment. The Ghanaian president also highlighted the country's growth prospects, estimated at 5,7% by the International Monetary Fund, compared to an average forecast of approximately 4% for sub-Saharan Africa.
Furthermore, the Big Push infrastructure program has reportedly already generated hundreds of thousands of jobs in construction. The manufacturing and pharmaceutical industry constitutes another pillar of this strategy.
John Dramani Mahama notably cited a textile factory in the north of the country employing 2 300 people, including approximately 80% women. The government also plans to create a production hub for vaccines and medicines to reduce dependence on imports.
Authorities have secured land and provided essential infrastructure, while foreign companies have reportedly already expressed interest. Published on 22/10/26 17:24 Dr.
Ange Ponou