President John Dramani Mahama has described the private sector as the principal engine of economic growth, and urged Kwahu entrepreneurs to lead the charge in manufacturing, agro-processing and job creation as the government works to stabilise the economy and improve infrastructure.
He also urged established business leaders to mentor the next generation of entrepreneurs, describing the idea as one of government's greatest responsibilities.
The President made the remarks during a courtesy call by the Kwahu Business Advocacy Association at the Jubilee House in Accra yesterday.
The non-partisan business network comprises Kwahu entrepreneurs, corporate executives, and industry leaders from across the country.
Kwahu's unique position
Recognising the entrepreneurial spirit of the Kwahu people, the President described the area as one of Ghana's strongest indigenous centres of entrepreneurship.
"Across virtually every sector, from commerce to manufacturing, transport, construction, hospitality, agriculture, finance and agribusiness, Kwahu entrepreneurs have contributed immensely to national development.
Government, therefore, sees Kwahu not simply as a geographical area but as one of Ghana's strongest indigenous centres of entrepreneurship," he said.
The President encouraged Kwahu entrepreneurs to move from trading to manufacturing and processing, stressing that producing what Ghanaians consume and exporting finished products represent the future of Ghana's economy.
"Manufacturing and processing are not only for foreigners; they are opportunities for all Ghanaians.
Ghanaian businesses should take advantage of special economic zones and establish factories to produce for both local consumption and export," the President advised.
President Mahama commended the association for organising itself around a common purpose of promoting enterprise, investment, and economic transformation.
"Every successful economy is built on strong partnerships between governments and the private sector.
We all know that government cannot do it alone. Government has to work hand in hand with the private sector to achieve economic prosperity," the President said.
He indicated that, with the public sector employing approximately 900,000 people out of a population of 33 million, the private sector remained the only viable avenue for absorbing the growing number of young people graduating from Ghana's education system each year.
Infrastructure development
President Mahama acknowledged that infrastructure remained one of the greatest constraints on business growth, citing the need for improved roads, reliable electricity, water supply, digital connectivity, and logistics.
"We are working around the clock to improve infrastructure, and I am sure you have seen the work ongoing, especially in the road sector.
When we assumed office, the road sector had deteriorated seriously, and it became necessary to channel a large part of the Big Push allocation into roads," he explained.
Regarding the energy sector, the President reported significant progress, including the payment of most debts owed to independent power producers and improved revenue collection at the Electricity Company of Ghana.
"ECG is now able to use the revenue collected to pay current bills owed to power producers, meaning we are no longer accumulating debts with the independent power producers.
We have also paid down debts owed to gas-producing companies, including Jubilee and ENI Sankofa, and this has enabled increased gas supply," President Mahama said.
Afram Plains development
The President highlighted the potential of the Afram Plains, announcing that the new bridge being constructed over the Afram River at Ekye-Amanfrom would be a game-changer for the area.
"It will open up opportunities for large-scale agricultural production and agribusiness development. I encourage the Kwahu Business Advocacy Group to take advantage of this opportunity rather than wait for foreign investors to come and establish plantations," he said.
He identified opportunities in cashew production and processing, rice production, palm oil, rubber, and several other agricultural ventures, as well as tourism development along the Volta Lake.
Tax reforms
President Mahama said his government had removed some taxes described by Ghanaians as nuisance taxes, including the COVID-19 Levy and the E-Levy, and was working to rationalise other taxes while improving efficiency in tax collection.
"With improved efficiency in revenue collection, government can reduce the tax burden on businesses and citizens. Technology, including artificial intelligence, will play a role in improving tax collection systems," he said.
On access to financing, the President indicated that the situation was improving as the government had stopped crowding out the private sector.
"Banks previously relied heavily on treasury bills instead of lending to businesses, but with government borrowing reduced, they are now being encouraged to support private sector growth," he said.
Call for indigenous investment
President Mahama stressed the importance of indigenous investment, stating that while his administration welcomed foreign direct investment, it could not replace local investment.
"Indigenous investment expands our gross national product and strengthens Ghanaian ownership of economic growth," he said.
The President expressed hope that work would soon begin on a convention and exhibition centre in Kwahu, providing a permanent, conducive venue for future Kwahu Business Forums rather than relying on tents.
About KBAA
The Kwahu Business Advocacy Association is a non-partisan business network that brings together Kwahu entrepreneurs, corporate executives, and industry leaders across Ghana.
The association is committed to promoting policy advocacy, enterprise development, and sustainable private sector growth.
Established to transform the traditionally individualistic business achievements of the Kwahu people into a strong, unified institutional voice, the association seeks to champion members’ collective interests while fostering collaboration and innovation.
The association spearheads initiatives aimed at improving access to finance, supporting youth entrepreneurship, advancing agribusiness, expanding commerce, and strengthening the hospitality sector.
It operates through a well-defined governance structure that comprises a General Assembly, a Managing Board, and a Board of Trustees, ensuring effective leadership and accountability.
Meeting attendees
The meeting was attended by senior government officials, including the Chief of Staff, Julius Debrah; Senior Presidential Advisor and Special Aide to the President, Joyce Bawa Mogtari; Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, and some presidential staffers.
The Chief Executive Officer of KBAA Managing Board, Felix Nyarko-Pong, commended the government for institutionalising the Kwahu Business Forum as an annual platform for national economic dialogue, and reaffirmed the association’s commitment to supporting its continued growth through collaboration, stakeholder engagement, and enterprise leadership.
He reiterated the association’s commitment to the government’s Big Push agenda and the 24-Hour Economy policy, particularly efforts to develop the Afram Plains into a major agricultural basket and industrial hub.
He said the association would work with the government to ensure that the area was properly zoned before large-scale development commenced, proposing that designated areas be allocated for agriculture, tourism, fisheries and other economic activities to maximise the potential of the vast virgin lands.
