President John Dramani Mahama has called for the end of the ongoing US-Iran war to ease pressure on businesses.
According to John Mahama, he is sure the US itself is feeling the pinch of the ongoing conflict in Iran.
Mahama noted that the ongoing conflict in Iran poses a challenge to the global economic environment, expressing hope for an early end to the war.
He disclosed that Ghana’s recent economic performance has been encouraging, with the economy growing by 6% in 2025 and recording 6.4% year-on-year growth in the first quarter of 2026.
Speaking at the US-Ghana Presidential Roundtable in New York, President Mahama stated, “Of course, everybody knows what’s happening in Iran. We’re praying that that conflict comes to an end early. I’m sure that the US itself is feeling the pinch of that war”.
“These gains matter, but stability is not an end in itself. We start stability so businesses can plan with greater certainty. Investors can decide with greater confidence and productive enterprises can grow,” President Mahama said.
Mahama added, “The gains we have made must now begin to show in the cost of doing business. Interest rates must come down. Long-term financing must become more available.”
“More capital must also flow into agriculture, manufacturing, energy, infrastructure, technology, and other productive activities,” he added.
Meanwhile, President John Dramani Mahama has said Ghana’s economy is resilient and capable of withstanding external shocks.
According to John Mahama, Ghana’s economy used to stand on broomsticks; but today it is standing on concrete pillars.
Mahama noted that in the past Ghana’s economy was vulnerable to developments in the global economic environment, but argued that today the economy is stabilised despite international challenges.
Speaking during his accountability engagement in Wa at the weekend as part of his #ResettingGhana Tour of the Upper West Region, Mahama stated, “In the past, Ghana’s economy used to stand on broomsticks. As soon as something happens in the world, it comes crashing down. Today Ghana’s economy is standing on concrete pillars, so even when there’s an earthquake, the country is still standing.
“This Iran-Israel-US war, if it had happened some years back, by now the economy would have come crashing down, but happily it’s been well managed,” the President explained.
Mahama, however, noted that while the economy remained stable, external developments had slowed the pace of progress expected by the Government.
According to John Mahama, his government planned to invest GH¢2.5 billion annually in five key sectors of the economy under its proposed “new economy” initiative aimed at creating jobs and opportunities for young people.
President Mahama disclosed that the Minister of Finance would unveil the initiative in the 2027 Budget Statement, with investments targeted at sectors including pharmaceuticals, agriculture and agro-processing, tourism, and power generation.
“These are not going to be government businesses. Government is not going to set up state-owned enterprises with GH₵2.5 billion a year. It is going to go to the private sector to set up the businesses,” President Mahama indicated.
Mahama further urged entrepreneurs and private sector operators to take advantage of the opportunities to expand businesses and create employment for the youth.
@ghnow_ Counsel for Salomey has provided an update on what transpired in court today. #GHnow #fyp ♬ original sound – GHnow
@ghnow_ The Majority Leader has described as mischievous claims that Ghana has become a “cocaine coast” under President Mahama. #GHnow #fyp ♬ original sound – GHnow
