President John Dramani Mahama announced Ghana’s strategic shift from economic stabilization to a new phase of growth and transformation during the 2026 May Day celebration in Koforidua. The President emphasized that recent macroeconomic gains must now directly translate into improved livelihoods and job creation for Ghanaian citizens.
A New Economic Focus
Addressing workers at the national event, organized by the Trades Union Congress, President Mahama highlighted the administration’s commitment to building a better life for Ghanaians on the foundation of economic stability. He stated that the government’s primary task is no longer just managing the economy, but actively expanding it to generate jobs and prosperity.
“Stability is the foundation, but it is not the house. The real task is to build a better life for our people on that foundation,” President Mahama declared. He reiterated that when his administration took office, the priority was to stabilize the economy by controlling inflation, reducing interest rates, and restoring fiscal discipline, progress he described as a “decisive turning point.”
Strategies for Growth and Employment
The President revealed plans to present a new economic policy to Cabinet and Parliament soon. This policy will focus on investing at least one percent of Ghana’s Gross Domestic Product (GDP) annually in high-impact sectors designed to generate significant employment opportunities.
A key strategy highlighted is the government’s recently approved 24-hour economy policy. This initiative aims to boost productivity and industrial growth by encouraging businesses to operate multiple shifts. The government plans to support these extended operations with incentives, including tax reliefs and reduced power costs for companies adopting round-the-clock work schedules.
Inclusive Development and Worker Recognition
The decision to hold the May Day celebration in Koforidua, outside the capital for the first time in recent years, was described by President Mahama as a strong signal of the administration’s commitment to inclusive national development. “Ghana is not just Accra. The Ghanaian worker is found in every corner of this country, and every region is a vital part of our national life,” he stated, underscoring the importance of reaching all parts of the nation.
President Mahama took the opportunity to commend Ghanaian workers, calling them the country’s most valuable asset. He specifically praised engineers from the Ghana Grid Company Limited and the Volta River Authority for their swift efforts in restoring full operations at the Akosombo Hydroelectric Plant following a recent fire incident. “Their efforts demonstrate the critical role Ghanaian workers play in national development,” he noted, confirming that all six turbines are now operational, resolving recent electricity supply disruptions.
Broader Regional Engagement
The President’s presence in Koforidua is part of a broader regional tour. This tour aims to engage directly with citizens and assess the progress of key national projects across different regions. The tour is scheduled to conclude with a town hall meeting in the Eastern Region, providing a platform for direct interaction with workers, students, traders, and traditional leaders.
President Mahama reaffirmed the administration’s dedication to inclusive governance and sustainable development. This includes continued investments in value addition, digital transformation, and initiatives specifically targeting youth employment. The overarching goal remains clear: to ensure that a stable economy leads to a better quality of life and a secure future for every Ghanaian family.
Looking Ahead
The focus now shifts to the implementation of the new economic policies and the 24-hour economy initiative. The success of these strategies will be crucial in determining Ghana’s ability to translate macroeconomic stability into tangible job growth and improved living standards for its citizens. Stakeholders will be watching closely to see how these ambitious plans unfold and impact the nation’s economic trajectory.
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