May Day Celebration: President Mahama Reaffirms Commitment to Jobs and Growth as Ghana Transitions Beyond Stabilisation
President John Dramani Mahama has reiterated his administration’s commitment to driving job creation and economic growth, noting that Ghana is shifting from a phase of stabilisation to one centred on expansion and transformation.
Speaking at the 2026 May Day celebration held at Jackson Park in Koforidua, the President emphasised the need for recent macroeconomic improvements to reflect in better living conditions for citizens.
The national event, organised by the Trades Union Congress, was hosted outside Accra for the first time in recent years—an approach he said reinforces the importance of inclusive development across all regions.
Held on the theme “Pivoting to Growth, Jobs and Sustainable Livelihoods: Resetting Ghana Beyond Macroeconomic Stability,” the celebration underscored the government’s evolving economic priorities.
“Ghana is not limited to Accra. Workers are present in every part of the country, and each region plays a critical role in national development,” he stated.
President Mahama noted that since assuming office, his administration has made steady progress in restoring macroeconomic stability, citing improvements in inflation, interest rates, fiscal management and exchange rate stability.
“When we took office, our immediate focus was to stabilise the economy – control inflation, lower interest rates and restore fiscal discipline. Today, we have made meaningful progress,” he said.
He described the gains as a “significant turning point” but cautioned that stability alone does not guarantee improved livelihoods.
“Macroeconomic stability provides the base, but it is not the end goal. The real objective is to build a better life for our people on that base,” he added.
According to the President, the government is now focused on converting economic stability into tangible opportunities through job creation and expanded economic activity.
“Our objective is clear—we intend to transform stability into opportunity. We will go beyond managing the economy to expanding it in ways that generate jobs and shared prosperity,” he said.
He revealed that a new economic policy framework would soon be presented to Cabinet and Parliament, with a plan to commit at least one per cent of GDP annually to high-impact, employment-generating sectors.
President Mahama also pointed to the government’s 24-hour economy policy—recently approved by Parliament—as a major intervention to enhance productivity and industrial output.
“We are moving past the conventional eight-hour work structure. Industries will be supported with incentives, including tax reductions and lower energy costs for businesses operating multiple shifts,” he noted.
He praised Ghanaian workers for their resilience and continued contribution to national development, describing them as the backbone of the economy.
The President also commended engineers from the Ghana Grid Company Limited and the Volta River Authority for successfully restoring operations at the Akosombo Hydroelectric Plant following a recent fire incident.
“I commend the engineers whose dedication and expertise have ensured the restoration of full operations. Their work highlights the indispensable role of Ghanaian workers in national development,” he said.
He assured that all six turbines at the Akosombo facility are now fully operational, helping to stabilise electricity supply after recent disruptions.
President Mahama further indicated that his visit to Koforidua forms part of a broader regional tour aimed at engaging stakeholders and assessing key projects nationwide. The tour is expected to end with a town hall meeting involving workers, students, traders and traditional authorities in the Eastern Region.
He reaffirmed the government’s commitment to inclusive governance and sustainable development, with a focus on value addition, digitalisation and youth employment.
“A stable economy must translate into improved living standards for our people. That remains our ultimate goal—enhancing livelihoods and securing the future for every Ghanaian household,” he stated.
