President Akufo-Addo to Transform Ghana’s Economy; Economist Highlights Challenges and Opportunities

President Akufo-Addo says he remains committed to promoting a business-friendly environment in Ghana. Nana Akufo-Addo was at the Jubilee House with his guest, Italy’s President Sergio Mattarella.

Emphasizing the importance of stability and robust regulation, President Akufo-Addo outlined his vision for Ghana’s economic future.

Making some remarks about the president’s statement, economist Martin Ohene Anim in and interview with RGGNEWS highlighted significant challenges facing the private sector.

These include instability in the economic environment, weak governance institutions, high interest rates, and currency depreciation.

Martin Ohene Anim said these are obstacles hindering business growth and job creation, pointing out that Ghana currently lags behind in economic rankings compared to other countries.

While acknowledging the ambitious goals set by President Akufo-Addo, Mr Ohene Anim cautioned that achieving such transformation would require addressing longstanding issues and implementing robust regulatory frameworks.

He noted that Ghana’s economic growth rate is currently at 23 percent, far below the top-performing economies globally, which hover around 5 percent.

Despite the challenges, Mr Ohene Anim expressed optimism about Ghana’s potential for economic growth and job creation if the government takes proactive steps to address key issues.

He urged policymakers to prioritize reforms that would create a conducive environment for private sector development and attract investment, ultimately driving Ghana towards economic prosperity.