Gov’t Aims for 600 New Businesses by 2028- Chief of Staff

Government has restated its commitment to bolstering the business sector, with a bold initiative to establish over 600 new enterprises by the end of President John Dramani Mahama’s current term.

This ambitious endeavor is closely tied to the upcoming Kwahu Business Forum, scheduled for Saturday, April 19, 2025. The forum aims to facilitate engagement between financial institutions and the private sector, exploring investment opportunities and policy support to foster a robust and inclusive business environment.

Chief of Staff Julius Debrah emphasized the forum’s potential to inject capital into the economy and generate sustainable employment, stimulating local economies, creating jobs, and enhancing tax revenues.

“A lot of funds are going to come into the economy,” he stated. “Because once a business starts, it stimulates the local economy where the company will be cited, and people get employed. They get money, and they pay their taxes, they buy other products from other people, and then our economy is stimulating and growing.”

The Kwahu Business Forum is designed to serve as a strategic platform for dialogue between financial institutions and private sector players, fostering collaboration to enhance Ghana’s business environment. Each participating bank is expected to support at least five viable projects this year, with plans to continue this support annually. This approach is projected to result in the creation of over 600 enterprises by the end of the four-year term.

“I think what he intends to achieve is that he wants to grow businesses,” Debrah explained. “He wants to be remembered for one thing that during his tenure, at least if for nothing at all, he brought up the conversation, invited business people, and asked them to start something, not just starting but encouraging banks to give them the necessary support so that we will develop our nation.”

Debrah further highlighted the potential for sustained growth, stating, “At least each of the banks that will show up are going to pick five projects, five bankable projects for this year. And they expect that next year, when we return to Kwahu, they will invite those five people that they helped or assisted to come and testify.” This initiative is expected to have a lasting impact on Ghana’s economy, with the potential to pinpoint over 600 enterprises that President Mahama has supported during his tenure.