Govt targets 600 new enterprises by 2028 – Julius Debrah

The Government of Ghana has reaffirmed its commitment to bolstering the business sector, aiming to establish over 600 new enterprises by the end of President John Dramani Mahama’s current term.

This initiative is closely tied to the upcoming Kwahu Business Forum, scheduled for Saturday, April 19, 2025, which seeks to facilitate engagement between financial institutions and the private sector to explore investment opportunities and policy support.​

Addressing journalists on Monday, April 14, Chief of Staff Julius Debrah emphasized the forum’s potential to inject capital into the economy and generate sustainable employment. He noted that the establishment of new businesses would stimulate local economies, create jobs, and enhance tax revenues, thereby contributing to national economic growth.​

Julius Debrah highlighted that each participating bank at the forum is expected to support at least five viable projects this year, with plans to continue this support annually.

This approach is projected to result in the creation of over 600 enterprises by the end of the four-year term, aligning with President Mahama’s vision of fostering a robust and inclusive business environment.​

The Kwahu Business Forum is designed to serve as a strategic platform for dialogue between financial institutions and private sector players, fostering collaboration to enhance Ghana’s business environment.

It aims to bring together stakeholders to discuss innovative financing models and strategies to strengthen the country’s business climate.

“A lot of funds are going come into the economy. Because once a business starts, it stimulates the local economy where the company will be cited, and people get employed. They get money, and they pay their taxes, they buy other products from other people, and then our economy is stimulating and growing. And so I think what he intends to achieve is that he wants to grow businesses.

“He wants to be remembered for one thing that during his tenure, at least if for nothing at all, he brought up the conversation, invited business people, and asked them to start something, not just starting but encouraging banks to give them the necessary support so that we will develop our nation.

He added, “At least each of the banks that will show up are going to pick five projects, five bankable projects for this year. And they expect that next year, when we return to Kwahu, they will invite those five people that they helped or assisted to come and testify.

“So if this continues for the next five years, each bank taking a minimum of five people, five enterprises to support. The following year doing same. I’m sure by the end of his four-year tenure, we’ll have over 600 enterprises that we can pinpoint and see that these are things that President Mahama started.”