President John Dramani Mahama said Ghana must entrench economic reforms that survive changes in government, a shift from crisis stabilization toward long-term growth driven by value addition, infrastructure investment and institutional discipline.
Speaking at the University of Ghana’s 77th Annual New Year’s School and Conference, Mahama warned that repeated policy reversals after elections have slowed development and weakened investor confidence. He said his second mandate would focus on consolidating gains in a way future administrations cannot easily undo.
“Development programs must be medium- to long-term,” Mahama said, adding that progress made under one government should not be discarded by the next.
The president pointed to sharp improvements in macroeconomic conditions following Ghana’s recent crisis. Inflation fell to just above 5% by the end of 2025 from 23.8% a year earlier, while public debt declined to about 45% of gross domestic product from more than 66%. Foreign exchange reserves rose to $13.8 billion, and the cedi ranked among the world’s strongest-performing currencies last year.
With stability restored, Mahama said the government will pivot toward structural transformation. He announced plans to introduce a policy requiring minerals, petroleum and agricultural products to be processed locally before export, part of an effort to reduce dependence on raw material shipments and deepen industrial capacity.
That agenda is anchored by the government’s 24-hour economy and accelerated export development program, which Mahama described as a productivity-driven strategy aimed at expanding manufacturing, logistics and agro-processing beyond traditional working hours.
Infrastructure investment will support the shift. Mahama said Ghana spent more than $13 billion under its Big Push program in 2025 and has allocated about $30.8 billion for 2026. Flagship projects include the Accra–Kumasi Expressway, expected to begin construction this year, which he said would ease chronic congestion between the country’s two largest cities.
Mahama also announced plans for a Green Digital City spanning Greater Accra, Eastern and Volta regions to relocate some government offices and reduce pressure on the capital. He stressed that Accra would remain Ghana’s capital.
The president said fiscal discipline, domestic revenue mobilization and financial-sector confidence-building would continue under the IMF-backed reform program, which he described as central to restoring credibility.
“The task now,” he said, “is to convert restored confidence into durable growth and shared prosperity.”
