Story perspectives

Ghana's Recovery at Risk Amid Soaring Interest Rates

7/30/2025

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Summary

Story summary

Solomon Owusu from the Movement for Change warns that Ghana's economic recovery is threatened by interest rates exceeding 23%, stifling private sector growth.
He stresses the importance of affordable credit for job creation, noting government jobs can only accommodate 700,000 individuals.
Finance expert Prof. Godfred Bokpin commends government initiatives to bolster local banks, especially Ghana Commercial Bank, and calls for tangible support for economic transformation.

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Story summary

Solomon Owusu from the Movement for Change warns that Ghana's economic recovery is threatened by interest rates exceeding 23%, stifling private sector growth.
He stresses the importance of affordable credit for job creation, noting government jobs can only accommodate 700,000 individuals.
Finance expert Prof. Godfred Bokpin commends government initiatives to bolster local banks, especially Ghana Commercial Bank, and calls for tangible support for economic transformation.