President John Dramani Mahama has announced plans to build an airport and a permanent convention and exposition center in Kwahu as part of attempts to turn the annual Easter business summit into a significant hub for investment and industry development.
Speaking on April 4, the second day of the 2026 Kwahu Easter Business Forum in the Eastern Region, the President stated that the program was a component of a larger plan to increase local firms’ opportunities and boost private sector involvement in the economy.
He said that in addition to improving road infrastructure to reduce traffic during the Easter celebrations, the government was already working with business partners to build a permanent conference center at the location.
“We are thinking of a permanent convention centre, and ultimately, we want to have an airport here so that flights can come in, both domestically and for people coming from outside,” he stated.
The forum, which started in 2024, has grown into a major venue for business networking, drawing banks, fintech companies, small and medium-sized businesses, and public organisations, according to President Mahama.
He informed the attendees that the business climate in Ghana has improved during the previous 12 months, citing falling interest rates, decreased inflation, and relative currency stability.
He claims that borrowing rates have significantly decreased, with some enterprises now obtaining credit at between nine and ten percent. In 2024, borrowing prices were approximately thirty-two percent.
He stated, “Banks now are holding huge liquidities, and they must find somebody to lend it to, because the government will not take it.”
He continued by saying that while lower Treasury bill rates were driving investors to the private sector, less government borrowing had freed up liquidity inside the banking industry.
The President also described incentives under the government’s 24-hour economy policy, such as accelerated port clearance within 24 hours and duty-free importation of plant and machinery for registered businesses.
He added that the final set of waivers and exemptions would be approved by Parliament. “These are incentives that will help existing businesses expand and scale up.”
He clarified that once the policy is fully implemented, businesses that currently operate numerous shifts will be among the first to gain.
President Mahama expressed worries about structural flaws in Ghanaian enterprises, especially the absence of succession planning, in relation to local enterprise growth.
He cautioned that disagreements and poor preparation cause many businesses to fail once their founders pass away.
“Businesses rise and collapse. We must ensure proper succession if we are serious about scaling up,” he stated.
He urged business owners to groom successors early, citing Kasapreko as an example of a company that has effectively managed leadership succession.
The President also urged mergers and acquisitions as a growth strategy, pointing out that many small enterprises continue to stagnate because of a lack of managerial expertise and limited access to funding.
President Mahama addressed issues over the economic environment and emphasised that access to public contracts should be determined by competency rather than political connection. He also warned against politically victimising private firms.
“I don’t have political colours when I look at the Ghanaian private sector,” he said.
He also emphasised the government’s “Big Push” infrastructure initiative, characterising it as the nation’s largest road investment effort, spanning over 2,000 km.
He claims that the program is generating jobs for young engineers while boosting activity in a variety of industries, such as manufacturing, small-scale trading, and construction.
Regarding energy, the President stated that the government has made strides in resolving the power industry’s legacy debts, including ongoing talks with independent power producers to restructure over $1.7 billion in outstanding commitments.
He clarified that the agreements include structured repayment schedules and partial debt reductions with the goal of stabilising the supply of power and reducing financial strain.
With continued macroeconomic stability, easier access to finance, and changes to help local businesses, President Mahama expressed hope that the Kwahu Business Forum will continue to develop into a regular event on Ghana’s economic calendar.
Source: newsthemegh.com