The Country Managing Partner of Deloitte Ghana, Daniel Kwadwo Owusu, has urged the government to borrow judiciously to finance specific productive investments and infrastructure projects only.

His advice comes on the back of the painful Debt Exchange Programme embarked upon by the country in 2023 to restructure its debt.

This follows an International Monetary Fund programme after the Ghanaian economy went into crisis.

Speaking at the launch of the 10th Ghana CEO Summit in Accra, Mr. Owusu commended the government for the gains chalked in bringing stability to the economy.

“The summit, now marking its 10th anniversary, comes at a time when the Ghanaian economy has witnessed significant improvement since the turn of 2025. Inflation has dropped to 3.2% as of the end of March 2026, the cedi has stabilised against the US dollar with a record appreciation over the past year and the debt-to-GDP [Gross Domestic Product] ratio continues to improve. Despite these developments, risks remain, prompting caution among some businesses”.

He also questioned why banks are investing heavily in short-term instruments instead of expanding loans to boost the real sector of the economy, despite a sharp fall in interest rates.

Despite positive results from expenditure control measures over the past year, Mr. Owusu stressed that the real sector still needs significant investment to stimulate real sector growth.

“Tax revenue remains below target, with total tax revenue to GDP at 13% in 2025, well below the Sub-Saharan Africa average of about 18%. This calls for innovative and decisive actions to address loopholes in our tax collection system. In March 2026, Ghana returned to the bond market for the first time since 2022 to issue a 7-year bond”, he added.

Business Environment

The Deloitte Boss commended the government for continually implementing significant initiatives to improve the business working environment.

One of such initiatives, he said, is the passage of the Ghana Investment Promotion Authority Bill, adding the passage of the Bill represents a significant modernisation and expansion of Ghana’s investment legal framework, with the removal of minimum foreign capital requirements (except for trading), and a more robust dispute resolution.

“Overall, the new investment Act provides greater harmonization with international and domestic laws, investor protection, and offers a more facilitative approach to both local and foreign investment that businesses should take advantage of”, he added.

Unemployment

He also expressed worry about the high unemployment rate in Ghana, particularly among fresh tertiary graduates.

He therefore urged the government to incentivise the private sector, especially the manufacturing sector and its value chain, with relief measures and other support to enable the sector to expand and employ a substantial number of these graduates. “This would boost the real sector of the economy”.

He concluded encouraging the government, business community, and civil society to foster collaboration to drive sustainable business, prioritise innovation, and embrace inclusive decision-making.

The 10th Ghana CEO Summit will come off on 28th May 2026, at the Kempinski Gold Coast Hotel in Accra.

It will focus on policy dialogue, business case discussions and a presidential CEO engagement session aimed at aligning government and private sector priorities.

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Borrow wisely for productive things only – Deloitte Boss tells government

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