Finance Minister Dr Cassiel Ato Forson says the government is pursuing an investment-grade credit rating to unlock cheaper long-term financing for businesses and revive Ghana’s corporate bond market.
He believes achieving the rating would strengthen investor confidence, attract institutional investors and create opportunities for local companies to raise funds through corporate bonds rather than relying heavily on bank loans.
Speaking at a New Economy engagement in Accra, Dr Forson said restoring macroeconomic stability and rebuilding confidence in Ghana’s financial system were central to the government’s ambition.
He explained that the country’s 2022 debt default and the subsequent Domestic Debt Exchange Programme (DDEP) significantly weakened the domestic bond market and limited access to international financing, particularly for local banks.
Although Ghana’s improved credit standing has helped restore some access to international financial markets, he said the government was determined to achieve investment-grade status to attract a broader range of investors.
“When we get to investment grade, you would have laid the foundation for corporate bonds and others to take off,” he said.
An investment-grade rating would indicate a stronger assessment of Ghana’s capacity to meet its debt obligations and potentially make its financial instruments eligible for investment by institutions with strict credit-rating requirements.
Dr Forson said the benefits would extend beyond government borrowing, as an improved sovereign credit profile could create more favourable conditions for businesses seeking long-term capital through the domestic bond market.
He emphasised that achieving the target would require sustained macroeconomic stability, predictable government policies and stronger investor confidence.
The Finance Minister said the New Economy programme was designed to establish these foundations, strengthen Ghana’s position in international financial markets and stimulate private-sector investment.
The government is therefore positioning the pursuit of investment-grade status as part of a broader strategy to reduce financing costs and expand access to capital for businesses.
