The Ghana National Chamber of Commerce and Industry (GNCCI) CEO, Mark Badu-Aboagye, says tax relief and falling interest rates are easing production costs in Ghana.
He notes that conditions have improved compared to previous years. The 2026 budget is largely business-friendly, with tax measures offering relief to businesses and consumers.
The cost of borrowing has decreased, with interest rates coming down. This has led to a relatively better cost of production.
However, businesses still face pressure, with inflation for locally manufactured goods edging up. Mr Badu-Aboagye links the improvement in inflation partly to restraint in business pricing.
Ghana's economy has seen a stable exchange rate, which has contributed significantly to the inflation outcome, alongside production costs. The national average inflation rate is 5.5%.
Some regions have recorded inflation above the national figure. Mr Badu-Aboagye cautions that the gains do not mean businesses have overcome their difficulties.
The GNCCI CEO suggests that further tariff relief, alongside the tax measures, could have lowered the cost of locally manufactured goods and pushed inflation lower. He notes that a stable exchange rate and lower interest rates have eased business costs. The Ghanaian economy has seen a decline in interest rates, with T-bills exceeding the government's target by 73%.
Mr Badu-Aboagye's comments come as the Ghanaian economy continues to navigate challenges. The economy has seen a decline in interest rates, with the government exceeding its target by 73%. The GNCCI CEO's comments suggest that the economy is seeing some improvement, but businesses still face pressure.