President John Dramani Mahama has emphasized that dependable fiscal frameworks, moderated inflation, consistent foreign exchange valuations, and a robust energy infrastructure are fundamental to instilling confidence in commercial enterprises to commit substantial capital investments.
He provided assurances to corporate investors that the government will maintain ongoing policy measures to preserve macroeconomic equilibrium and enhance critical infrastructure systems.
President Mahama made these remarks during the commissioning of Nestlé Ghana’s upgraded evaporated milk manufacturing facility at its Tema plant on Thursday, October 8, 2026.
The GHS 59 million modernization initiative aims to substantially expand production capabilities, enhance operational performance, and serve both local and regional consumer bases.
“Capital gravitates toward secure environments, yet it flourishes and grows where macroeconomic stability and supporting infrastructure exist,” the president stated, emphasizing that the government remains committed to supplying consistent electricity and favorable economic circumstances to facilitate industrial advancement.
Regarding the macroeconomic landscape, the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, previously outlined during consultations with banking sector executives that since February of this year, the international economic context has grown progressively more complex, characterized by persistent geopolitical instability, elevated energy expenditures, and increased uncertainty surrounding international commerce and capital availability.
Despite these challenges, global economic expansion has remained resilient, with the International Monetary Fund maintaining its 2026 worldwide growth estimate at 3.0 percent. Nevertheless, the intensification of geopolitical tensions and the anticipated occurrence of a potent El Niño phenomenon in the latter portion of this year represent considerable threats to future projections, he noted.
These circumstances have already prompted numerous prominent central banks to implement more conservative monetary approaches, with certain institutions commencing increases to their benchmark interest rates. This development may result in elevated international borrowing costs and constrained credit accessibility for developing and emerging economies, including Ghana.
Regarding domestic economic conditions, he stated that the economy continues to exhibit substantial resilience.
“Real Gross Domestic Product expanded by 6.0 percent during the second quarter of 2026, primarily supported by growth in the services and industrial sectors. Although this represented a marginal decline from the 6.6 percent expansion observed in the equivalent quarter of 2025, the underlying strength of economic activity remains robust.
Both consumer and business confidence indices maintained positive trajectories, attributable to the relatively stable macroeconomic conditions and favorable expectations regarding future economic expansion. Headline inflation rose moderately to 5.0 percent in August, compared to 4.6 percent in July, predominantly reflecting the transmission effects from utility tariff revisions and persistently elevated crude oil valuations.
“Notably, core inflation and inflation expectations demonstrated continued moderation, while headline inflation remained below the lower threshold of the medium-term target range of 8 ± 2 percent. In light of these developments, the Monetary Policy Committee unanimously resolved to retain the Monetary Policy Rate at 14.0 percent. The Committee evaluated the risk equilibrium between inflationary pressures and economic growth as substantially balanced, while acknowledging that inflation is anticipated to gradually return to the target range throughout the subsequent quarters,” he concluded.
