The Ghana National Chamber of Commerce and Industry (GNCCI) has urged the government to expand the use of public–private partnerships (PPPs) as a more sustainable financing option rather than returning to heavy borrowing.
GNCCI President, Mr Stephane Miezan, said partnerships especially with domestic private sector investors could provide the long-term capital needed to support national development without pushing the country back into debt distress.
He made the call at the 6th Chamber National Dialogue Series in Accra, a platform that brings together policymakers, business leaders, academics, and experts to deliberate on critical economic issues.
This year’s dialogue focused on the 2026 National Budget, its policy direction, and implications for private sector development.
Mr Miezan urged the government to ensure effective implementation of the budget, warning that previous national budgets contained well-crafted policies that failed to materialise due to weak execution.
He also cautioned against the government’s plan to re-enter the domestic debt market, even cautiously, arguing that Ghana needed more time to consolidate recent macroeconomic gains.
“We believe it is too early in the day to start accruing debt,” he said.
He explained that the 2026 Budget seeks to consolidate the macroeconomic stability achieved in 2025, reinforce fiscal discipline, and accelerate inclusive growth through three core pillars: macroeconomic consolidation, expanded growth and job creation, and enhanced social and security investment.
According to him, if these commitments are fully carried out, they present fresh opportunities for industry but also require vigilance, strong advocacy, and consistent dialogue with the private sector.
Mr Miezan reaffirmed GNCCI’s commitment to supporting a competitive, business-friendly environment, one that lowers the cost of doing business, improves productive capacity, strengthens institutions, and expands market access under 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 said.
Contributing to the discussion, Economist Professor Patrick Opoku Asuming projected a more business-friendly climate in 2026, supported by the government’s planned VAT reforms, improved macroeconomic targets, and renewed commitment to fiscal discipline.
He said businesses were likely to welcome the government’s plan to maintain expenditure discipline while pursuing a primary balance to reduce the overall deficit.
The approach, he noted, marks an attempt to stabilise the economy after years of turbulence.
Prof. Asuming added that the government appeared ready to ease restrictions and reactivate key flagship programmes to stimulate growth, a shift from the tight fiscal conditions faced in the current year.
“There seems to be an attempt to move the handbrake a little to get the economy moving,” he said, noting that the business community would be encouraged by the renewed push toward growth-oriented policies.
Also speaking at the event, Mr Yaw Appiah Lartey, Partner for Strategy & Partnerships at Deloitte Ghana, described the 2026 Budget as a deliberate effort by the government to stimulate economic activity after stabilising the economy in 2025.
He observed that much of 2025 was spent dealing with the effects of overspending from the previous year and meeting key IMF-directed macroeconomic benchmarks.
Mr Lartey highlighted the government’s decision to significantly increase capital expenditure from a projected 36 percent in 2025 to nearly GH¢60 billion in 2026, reflecting a strong shift toward infrastructure expansion and growth-enhancing investments, including major allocations to the Big Push initiative and other strategic projects.
However, he cautioned that the ambitious infrastructure drive must not depend on expensive borrowing, which has historically worsened Ghana’s debt challenges.
