The Ghana National Chamber of Commerce and Industry (GNCCI) has urged the government to expand its use of public–private partnerships (PPPs) as an alternative to borrowing to finance national development.
GNCCI President, Mr. Stephane Miezan, said the government should actively consider partnerships with domestic private sector investors to reduce reliance on debt.
He made the remarks at the sixth edition of the Chamber National Dialogue Series held in Accra. The Dialogue Series provides a platform for policymakers, industry leaders, academics, and experts to exchange views on major national issues. This edition focused on the 2026 National Budget—its policy direction, orientation, and implications for private sector growth.
Mr. Miezan called on the government to ensure effective implementation of the 2026 Budget, stressing that many well-designed policies in past budgets had remained unexecuted.
He also urged government to reconsider plans to re-enter the domestic bond market, noting that even a cautious borrowing approach could lead the country back into debt distress.
“We believe it is too early in the day to start accruing debt,” he cautioned.
He explained that the 2026 Budget aims to consolidate macroeconomic gains made in 2025, reinforce fiscal discipline, and stimulate inclusive growth, anchored on three pillars: macroeconomic consolidation, expanded growth and job creation, and enhanced social and security investments. These commitments, he said, offer opportunities for businesses but also demand vigilance and sustained advocacy.
GNCCI, he emphasised, remains committed to promoting a business-friendly environment that reduces operational costs, improves productive capacity, strengthens institutions, and opens new markets under the AfCFTA and beyond.
“We remain committed to working collaboratively with all stakeholders to ensure that national policies translate into tangible outcomes for Ghanaian enterprises,” he added.
Economist Professor Patrick Opoku Asuming projected a more favourable business environment in 2026, citing planned VAT reforms, improved macroeconomic targets, and a stronger commitment to fiscal discipline. He noted that the government’s intention to manage expenditure carefully while achieving a primary balance is likely to boost business confidence.
He said the measures signal a deliberate effort to stabilise the economy after a turbulent period, adding that government plans to reactivate key flagship programmes suggest a shift away from the tight fiscal conditions experienced this year.
“There seems to be an attempt to move the handbrake a little to get the economy moving,” he remarked, predicting that businesses will welcome this renewed growth focus.
Mr. Yaw Appiah Lartey, Partner for Strategy & Partnerships at Deloitte Ghana, described the 2026 Budget as a strategic effort by government to stimulate growth following a year of stabilisation. He noted that much of 2025 was dedicated to correcting overspending from the previous year and meeting IMF-guided macroeconomic targets.
He highlighted the government’s plan to significantly increase capital expenditure—from a projected 36 percent in 2025 to nearly GH¢60 billion in 2026—as evidence of a renewed focus on infrastructure and growth-oriented investments, including major allocations for the Big Push initiative and other strategic projects.
However, Mr. Lartey cautioned that this ambitious infrastructure agenda must not be financed through expensive borrowing, which has historically worsened Ghana’s debt situation.
Source: theghanareport
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