President John Dramani Mahama has unveiled plans to construct an airport and a permanent convention and exhibition centre at Kwahu, as part of efforts to transform the annual Easter business forum into a major hub for investment and enterprise development.
Speaking on the second day of the 2026 Kwahu Easter Business Forum in the Eastern Region on April 4, the President said the initiative formed part of a broader strategy to expand opportunities for local businesses and deepen private sector participation in the economy.
He indicated that the government was already engaging private partners to develop a permanent conference facility at the site, alongside improvements to road infrastructure to ease congestion during the Easter festivities.
“We are thinking of a permanent convention centre, and ultimately, we want to have an airport here so that flights can come in, both domestically and for people coming from outside,” he said.
President Mahama noted that the forum, which began in 2024, had evolved into a significant platform for business networking, attracting banks, fintech firms, small and medium enterprises, and public institutions.
He told participants that Ghana’s business environment had improved over the past year, pointing to declining interest rates, easing inflation and relative currency stability.
According to him, borrowing costs, which hovered around 32 per cent in 2024, have dropped considerably, with some businesses now accessing credit at between nine and 10 per cent.
“Banks now are holding huge liquidities, and they must find somebody to lend it to, because the government will not take it,” he said.
He added that reduced government borrowing had freed up liquidity within the banking sector, while lower Treasury bill rates were pushing investors towards the private sector.
The President also outlined incentives under the government’s 24-hour economy policy, including duty-free importation of plant and machinery for registered firms and expedited port clearance within 24 hours.
“These are incentives that will help existing businesses expand and scale up,” he said, adding that Parliament would approve the final package of exemptions and waivers.
He explained that companies already operating multiple shifts would be among the first to benefit once the policy is fully implemented.
On local enterprise development, President Mahama raised concerns about structural weaknesses within Ghanaian businesses, particularly the lack of succession planning.
He warned that many firms collapse after the death of their founders due to disputes and inadequate planning.
“Businesses rise and collapse. We must ensure proper succession if we are serious about scaling up,” he said.
He cited Kasapreko as an example of a company that has successfully managed leadership transition, urging business owners to prepare successors early.
The President also encouraged mergers and acquisitions as a strategy for growth, noting that many small businesses remain stagnant due to limited managerial capacity and restricted access to finance.
Addressing concerns about the business environment, President Mahama cautioned against political victimisation of private companies, stressing that access to state contracts should be based on competence rather than political affiliation.
“I don’t have political colours when I look at the Ghanaian private sector,” he said.
He further highlighted the government’s “Big Push” infrastructure programme, describing it as the largest road investment drive in the country’s history, covering more than 2,000 kilometres.
According to him, the programme is stimulating activity across sectors, including construction, manufacturing and small-scale trade, while creating employment opportunities for young engineers.
On the energy front, the President said the government had made progress in addressing legacy debts in the power sector, including ongoing negotiations with independent power producers to restructure about $1.7 billion in outstanding obligations.
He explained that the agreements involve partial debt reductions and structured repayment plans aimed at stabilising electricity supply and easing fiscal pressures.
President Mahama expressed optimism that the Kwahu Business Forum would continue to grow into a permanent fixture on Ghana’s economic calendar, supported by sustained macroeconomic stability, improved access to credit and reforms to strengthen local enterprises.
Source: www.kumasimail.com
