Vice President Dr Mahamudu Bawumia has said the government has begun implementing policies and programmes intended to make Ghana the most business-friendly country in Africa.
These include ensuring fiscal discipline, cutting the budget deficits, managing the national debt and undertaking measures to fight corruption, he said.
Vice President Bawumia said this when a delegation from Stanbic Bank- Ghana, and some senior officials from its parent company, Standard Bank Group from South Africa, paid a courtesy call on him at the Flagstaff House, in Accra.
The delegation, led by Alhassan Andani, the Chief Executive Officer of Stanbic Bank-Ghana, was at the Presidency to discuss issues relating to the economy and affirm their commitment to doing business in Ghana to help drive the country’s development agenda.
Dr Bawumia said the New Patriotic Party won the 2016 General Elections based on the assurance of bringing drastic change to Ghana’s economic fortunes and that the Nana Akufo-Addo’s led Administration was determined to deliver in that regard.
“This is a reformist government. Our message for change was on economic transformation, curbing corruption and that is fundamentally what we are doing.”
“We are keeping a close, laser focus on the economy so that we do not get any surprises, so we can stay ahead of the curve.”
“The fundamental source of what we intend to do is solid fiscal discipline and consolidation. The deficit is expected to be brought down from 9 to 6.5 per cent, and we are cutting down government expenditure,” Dr Bawumia said.
He said the government was working around the clock to ensure stability in the provision of utilities such as electricity and water to reduce cost of production and manufacturing.
Vice President commended Stanbic Bank for its immense contribution made to the country over the years and called on the private sector to partner government to implement programmes designed to make the lives of Ghanaians better.
Mr Helmut Engelbrecht, Executive Head of the Bank in-charge of Corporate Banking, Africa Regions, pledged the commitment of the Standard Bank Group, to support Ghana’s development agenda.
“We are ready to share experiences gained in the 20 African countries where we operate, to help you further modernise the Ghanaian economy,” he said.
The delegation included Kwamina Asomaning, Executive Head, Corporate and Investment Banking, Stanbic Bank-Ghana; Madam Sylvia Inkoom, Executive Head, Corporate Banking, Stanbic Bank-Ghana; and Mawuko Afadzinu.
The rest included David Humphrey, Group Executive Head, Power and Infrastructure – Standard Bank Group, Simon Ashby-Rudd, Group Executive Head, Oil & Gas Sector – Standard Bank Group; and Jaco Burger, Group Executive Head, Corporate Banking, South, West and Central Africa – Standard Bank Group.
The Standard Bank Group is one of South Africa’s largest financial services groups.