President John Dramani Mahama on Wednesday received the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, at the Presidency for discussions on strengthening Ghana’s economy through strategic partnerships and private-sector investment.
The meeting focused on opportunities to scale up commercial agriculture, particularly in the cocoa, oil palm and poultry sub-sectors, as part of efforts to expand production, create jobs and increase the value generated from Ghana’s agricultural resources.
The two sides also discussed the government’s policy to ensure that at least 50 percent of Ghana’s cocoa, other agricultural produce and minerals are processed locally before export.
The discussions further covered infrastructure development, including the expansion of Ghana’s railway, aviation and road networks under the government’s Big Push Infrastructure Development Programme.
Digital connectivity, as well as persistent challenges in the energy and education sectors, also featured prominently in the engagement.
President Mahama, who was joined by the Chief of Staff and the Ministers responsible for Finance, Energy and Trade, highlighted what he described as significant improvements in Ghana’s economic outlook following the implementation of fiscal consolidation measures.
According to the President, prudent economic management and strict fiscal discipline have contributed to a sharp decline in inflation, reduced national indebtedness and the restoration of investor confidence.
$300m financing for SHS double-track phase-out
As part of the government’s transformative initiatives in the education sector, President Mahama announced that Ghana had secured a $300 million World Bank financing package to support the permanent elimination of the double-track system in Senior High Schools by the end of 2027.
The financing is expected to support interventions aimed at expanding infrastructure and creating the additional capacity required to accommodate students under a single-track academic calendar.
Mr Makhtar Diop commended President Mahama for his commitment to economic reforms and efforts to reposition Ghana’s financial outlook.
He pledged the IFC’s readiness to deepen its support for Ghana, particularly in commercial agriculture, while supporting broader initiatives aimed at building a more resilient and sustainable economy.
The engagement forms part of efforts by the Mahama administration to attract strategic development-finance partnerships and private-sector investment to support Ghana’s economic transformation.
Story: Patrick Asford
