Bankers, policymakers, and industry leaders have emphasized that Ghana’s macroeconomic stability must be converted into real economic gains, including job creation, productivity improvements, and industrial growth.
The call was made at the Chartered Institute of Bankers Ghana’s (CIB Ghana) Post-MPC Policy Seminar, themed “Balancing Stability and Growth: Interest Rates Impact in Geopolitical Shocks.” The event convened officials from the Bank of Ghana, Ministry of Finance, Ghana Union of Traders’ Associations, the Association of Ghana Industries, leading banks, and students.
Togbe Asiama Krakani V, Vice President of CIB Ghana, highlighted the Institute’s role in developing banking talent and leadership while providing a platform to discuss leveraging macroeconomic gains for sustainable growth.
Insights from a survey of banking sector leaders, presented by CIB Ghana CEO Mr. Robert Dzato, revealed strong confidence in Ghana’s economic stability, with 72 percent of respondents expressing high confidence and 89 percent expecting increased lending in the next quarter. The survey also showed that while stability was effectively transmitted into lending, real interest rates in segments such as savings and loans remained high, constraining funding for some borrowers.
Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana, through Dr. Philip Abradu-Otoo, Director of Research, noted that the Central Bank’s 2026 focus is shifting from stabilization to inclusive growth. The recent policy rate cut from 15.5 to 14 percent is aimed at lowering borrowing costs, expanding credit access for SMEs and traders, and supporting economic transformation.
Panel discussions underscored the need to move beyond stabilization. Dr. Theo Acheampong, Technical Advisor to the Minister of Finance, urged structural transformation in agriculture and manufacturing to reduce import dependence and build resilience against external shocks.
Mr. Eric Defor, representing the Association of Ghana Industries, called for targeted interventions, including a dedicated industrialization fund, warning that commercial banks alone could not sustain long-term financing for manufacturing. Experts agreed that a coordinated approach between fiscal and monetary policy, aligned with industrial development, would be critical to turning macroeconomic stability into tangible growth and employment opportunities.
