Ghana Open For Business, President Mahama Tells Investors in Inaugural Speech
President John Dramani Mahama has reassured the investor community that Ghana remains open for business, inviting foreign and local businesses to participate in his government’s vision of a 24-hour economy aimed at revitalizing the country’s economic fortunes.
Delivering his inaugural address at the Independence Square on Tuesday, January 7, 2025, President Mahama underscored the critical role of private sector involvement in the economic transformation agenda.
He stated that Ghana’s economic recovery hinges on innovative policies and active collaboration with businesses to create jobs and boost investor confidence.
“Ghana is open for business. We invite the private sector to join us in implementing a 24-hour economy that will drive growth, create employment opportunities, and deliver significant returns for investors,” President Mahama said.
Background on Economic Challenges
The call comes in the wake of economic challenges that have plagued the country since 2022. The introduction of the Domestic Debt Exchange Programme during the crisis led to heightened inflation, increased production costs, and a volatile exchange rate environment that disrupted business operations and investor confidence.
The economic turbulence prompted an exodus of some foreign businesses, further exacerbating the situation.
President Mahama’s administration is now prioritizing measures to restore stability and foster an environment conducive to investment.
Vision for a 24-Hour Economy
President Mahama emphasized that the 24-hour economy initiative would be pivotal in ensuring a more resilient and competitive economic framework. By enabling round-the-clock business operations, the initiative seeks to maximize productivity, enhance service delivery, and generate substantial economic activity.
“Your participation as private sector stakeholders will form the backbone of the Ghanaian economy. Together, we can build a thriving, inclusive economy that benefits all,” he added.
The President’s remarks signal his administration’s intent to adopt bold measures to stimulate economic recovery and create a sustainable growth path.
