The Finance Minister of Ghana, Ken Ofori-Atta, has reaffirmed the government’s commitment to swiftly restoring the country’s economic fortunes. Speaking at the MTN Group’s 2023 Capital Market Day in Johannesburg, Ofori-Atta addressed industry experts, policymakers, and international partners, assuring them of the government’s dedication to revitalizing the Ghanaian economy and securing a prosperous future for all Ghanaians.
Acknowledging the profound impact of the global economic downturn caused by the COVID-19 pandemic and the ongoing geopolitical tensions, Ofori-Atta highlighted how these external factors have adversely affected Ghana’s economy, necessitating support from the International Monetary Fund (IMF). However, he emphasized that the government remains undeterred and is implementing measures to navigate the challenges and restore Ghana’s economic fortunes.
Ofori-Atta outlined a series of comprehensive measures and strategies designed to stimulate economic growth, attract investments, and create job opportunities. The government’s focus lies in enhancing key sectors such as agriculture, manufacturing, and infrastructure development, while also emphasizing the importance of sustainable practices.
The Finance Minister stressed, “We are concentrating on boosting agricultural productivity, promoting local industries, and investing in critical infrastructure projects. Through these actions, we will establish a conducive environment for businesses to thrive, generate employment opportunities, and drive economic growth.”
Fiscal discipline and prudent financial management are paramount to the government’s approach. Ofori-Atta assured, “We will maintain responsible fiscal policies, improve revenue generation, and prioritize the efficient allocation of resources. These measures will ensure that our economic revival efforts are sustainable in the long run.”
Recognizing the significance of swift action, Ofori-Atta emphasized the pivotal role a revitalized economy plays in the well-being of Ghanaians. He expressed empathy for the hardships citizens are facing and reiterated the government’s commitment to expedite the recovery process.
Public-private cooperation was also highlighted as crucial to achieving desired socio-economic outcomes. The Finance Minister called upon businesses, investors, and the entire Ghanaian populace to join hands with the government in Ghana’s transformative journey.
In another development, while in South Africa, Ofori-Atta virtually met with President Cyril Ramaphosa, who congratulated Ghana for securing an IMF deal in record time. Discussions focused on strengthening existing ties and fostering a healthy interchange for businesses between Ghana and South Africa.
Ofori-Atta expressed optimism that this economic cooperation would have a meaningful and mutually beneficial impact on citizens of both countries. President Ramaphosa shared his confidence that collaboration between the government and the private sector would lead to a rapid resolution of the energy challenges currently faced by South Africa.
Together, these efforts demonstrate the Ghanaian government’s commitment to swift economic revival and its eagerness to attract foreign investors. By implementing comprehensive strategies, fostering collaboration, and prioritizing sustainable practices, Ghana aims to create a conducive environment for economic growth and improve the well-being of its citizens.
