Communications member of the United Party (UP), Afia Korankyewaa, has urged government to move beyond macroeconomic achievements and focus on ensuring that recent gains in interest-rate reductions translate into real relief for Ghanaian businesses.
Speaking on UTV Ghana on November 27, 2025, Korankyewaa acknowledged the administration’s success in stabilizing key economic indicators but stressed that stability alone is not enough if enterprises cannot feel the impact in their daily operations.
She explained that interest rates are shaped by several interlinked variables — including the policy rate, reference rate, inter-bank rate, and treasury bill rate — and argued that these must work in harmony before the economy experiences meaningful change.
“Reducing the interest rate is only the beginning,” she said. “What matters is how quickly these reductions show in the cost of borrowing for businesspeople who are trying to grow.”
Korankyewaa highlighted that lower interest rates can stimulate production, expand access to credit, and create jobs as businesses scale up. However, she emphasized that many Ghanaian entrepreneurs are still waiting to see these benefits materialize.
She also contrasted Ghana’s multi-layered interest-rate structure with the simplified systems used by some neighbouring countries, suggesting that Ghana could explore ways to streamline its framework for better efficiency.
While commending the government’s efforts so far, she called for continuous monitoring and additional interventions to ensure that economic stability is sustained and that its gains directly improve livelihoods.
“We’ve made progress, but more must be done. The system should work for the ordinary Ghanaian and for the businesses that keep the economy running,” she concluded.
