The Kwahu Business Forum, established by President John Dramani Mahama, has been lauded as a pivotal initiative aimed at bolstering entrepreneurship and driving the growth of Small and Medium Enterprises (SMEs) in Ghana. This forum serves as a vital platform for acknowledging and promoting the entrepreneurial spirit across the nation, aligning with the government’s vision of expanding the private sector, particularly in agro-processing and manufacturing. The forum’s establishment resonates with the National Democratic Congress’ (NDC) 2024 election campaign promise of a 24-hour economy, a concept emphasizing enterprise, business creation, and job generation for the youth.
The Kwahu Business Forum underscores the recognition of the private sector as the engine of economic growth, with business leaders acting as the drivers of this engine. As job creators and innovators, these entrepreneurs are considered crucial to national development and require nurturing, support, and a conducive environment to flourish. The forum facilitates dialogue and collaboration among entrepreneurs, financial institutions, and government agencies, enabling them to collectively strategize and navigate the challenges and opportunities within the business landscape. Parliament has pledged its support to the President’s agenda by committing to work with relevant sector ministries and enterprises to identify challenges, formulate solutions, and monitor the implementation of government promises to nurture businesses.
Parliamentary committees will actively engage with their respective sector ministers and businesses, identifying obstacles and developing appropriate recommendations to address them. This collaborative approach ensures accountability and effective implementation of government policies designed to support business growth and job creation. Parliament has also committed to overseeing the implementation of promises made to incubate and develop enterprises nationwide, ensuring the effective allocation and utilization of resources outlined in the 2025 budget. This commitment underscores the government’s dedication to fostering entrepreneurship and promoting economic development across all sectors.
President Mahama’s directive to channel 80% of the common fund directly to local assemblies marks a significant step towards empowering local economies and supporting local businesses. This strategic allocation ensures that funds are readily available at the local level to procure services from local entrepreneurs and businesses, directly injecting resources into local communities. Over the next four years, this initiative is projected to inject billions of Ghana cedis into local assemblies, supporting the growth of local entrepreneurship and stimulating economic activity across the country. This decentralized approach fosters economic inclusivity and strengthens local economies, contributing to overall national development.
Furthermore, the President’s directive to procure food items for schools directly from local communities, rather than through centralized procurement in Accra, demonstrates a commitment to empowering local businesses and stimulating local economies. This decentralized approach ensures that the economic benefits of school feeding programs are distributed throughout the country, benefiting local farmers, suppliers, and businesses. By sourcing food locally, schools contribute to the growth of local economies and provide opportunities for local businesses to thrive. This approach also ensures the freshness and quality of food provided to students, supporting their health and well-being.
The Kwahu Business Forum epitomizes the President’s commitment to promoting dialogue, collaboration, and innovation within the business sector. By bringing together diverse stakeholders, the forum creates an environment conducive to sharing experiences, exploring investment opportunities, and accessing financial products. This collaborative approach enables businesses to overcome challenges, expand their operations, and contribute meaningfully to economic growth. The forum’s focus on the financial sector underscores the importance of access to capital and financial services in supporting business development, innovation, and job creation.
