President Nana Addo Dankwa Akufo-Addo has asked the Governor of the Bank of Ghana (BoG) to take a different look at the existing interest rates in the country. He said a downward review of the interest rates was essential in making the private sector competition to help assist a Ghana beyond aid.
Speaking to the Chief Executive Officers’ (CEOs) Executive Forum in Accra yesterday, President said: “The recent interest rate by the Central Bank is 16 per cent, therefore, it needed to be brought down support to create an enabling environment for businesses.
The event was attended by the Minister of Trade and Industry, Mr Alan Kyerematen; the Minister of Roads and Highways, Mr Kwasi Amoako-Atta; the Minister of Finance, and Mr Ken Ofori-Atta.
“African Continental Free Trade Area (ACFTA) comes with a market of 1.2 billion people and together with gross domestic product (GDP) of $3 million across the 54 member countries of the African Union (AU) that have signed the agreement. Ghanaian businesses should strive to be the front line actors in the AfCFTA,” President said.