The Chief Executive Officer of the Ghana Association of Banks, John Awuah, says Ghana’s business environment has been relatively favourable, citing improved economic stability and lower lending costs as positive developments ahead of the presentation of the 2027 Budget.
He said although some concerns remained within the business community, the prevailing economic conditions offered an opportunity for businesses to consolidate their gains and contribute to the country’s growth.
Speaking in an interview on Joy News ahead of the 2027 Budget presentation, Mr Awuah said the recognition of declining lending costs was an encouraging development that stakeholders should acknowledge.
“It’s the first time on many occasions we are on the same platform as my brother and for the first time he’s come clean and said that cost of lending is low which in my view is something that is positive that all of us must pick on,” he said.
Assessing the broader business environment, the banking industry chief said conditions had been generally favourable, although no market could be considered perfect.
“So I would say the business environment has been largely okay. We still have a few concerns here and there but there is nothing like a perfect market,” he stated.
Mr Awuah said the relative stability experienced by the economy had provided an opportunity for businesses to operate and pursue their objectives, adding that stakeholders should focus on sustaining the gains.
“So we take it that listening to the business community and what they’ve been able to achieve within this period of relative stability is something that we should all be proud of and as I said we are all looking forward to how do we maintain it and grow as we all expect right on the back of the stability and register the growth we are all looking for,” he added.
His comments come ahead of the presentation of the 2027 Budget Statement and Economic Policy by Finance Minister Dr. Cassiel Ato Forson to Parliament on Thursday, November 12, 2026.
The budget is expected to outline the government’s next phase of economic policy, with emphasis on translating recent macroeconomic stability into productive investment, job creation, higher incomes and improved living standards.
Deputy Finance Minister Thomas Nyarko Ampem has said the budget will advance the government’s US$10 billion New Economy agenda, which seeks to make Ghana’s economy more productive, competitive, diversified, technology-driven and inclusive.
The presentation is expected to provide further details on how the government intends to build on the country’s economic stabilisation gains and translate them into opportunities for businesses and households.
