Accra: Mr. Mahama Ayariga, the Majority Leader and Leader of Government Business in Parliament, announced that since the Mahama-led Government took office in 2025, the introduction of sound policies has strengthened the Ghanaian Cedi. He emphasized that during the previous New Patriotic Party (NPP) administration, the unpredictability of the cedi made business planning difficult, leading to economic challenges.
According to Ghana News Agency, Mr. Ayariga stated that stabilizing the cedi and reducing inflation serve as incentives to the business community. He made these comments in response to the Minority's assertions that the current government has not introduced policies to support businesses since taking office. Mr. Ayariga, who is also the MP for Bawku Central, highlighted that, unlike the previous NPP government, the current administration has not relied on Treasury Bills to withdraw funds from banks, thereby allowing businesses to access financial resources to boost production.
Mr. Ayariga further noted that the government is not currently borrowing from banks, resulting in an abundance of available funds, with banks actively seeking out businesses to provide financial support. He shared anecdotes of businessmen being approached by banks with offers of financial assistance, which they reportedly do not need.
Additionally, Mr. Ayariga discussed the 24-Hour Economy policy, describing it as a private-sector-led initiative with full government backing intended to transform the economy and promote growth and prosperity for all Ghanaians. However, earlier comments from Mr. Habib Iddrisu, the MP for Tolon and Second Deputy Minority Chief Whip, criticized the government for not presenting the 24-Hour Economy Policy document to Parliament for debate prior to its launch. Mr. Iddrisu questioned the source of funds for financing the estimated four-billion-dollar project.
The government explained its plan to seek private investments for the implementation of the 24-Hour Economy Policy, with an estimated cost of US$4 billion, aiming to create 1.7 million jobs over four years.
