President John Mahama has cautioned that recent macroeconomic stability must not be mistaken for structural economic transformation.

He warned that Ghana risks stagnation unless deeper industrial reforms are pursued.

Speaking at the Presidential Dialogue with the Private Sector at the Kempinski Hotel Gold Coast City Accra on February 23, 2026, President Mahama acknowledged signs of recovery following a period of severe economic turbulence.

“We’re beginning to see positive signals, relative stabilisation of the currency, improved investor sentiment, strengthened business confidence, and new private capital investments in manufacturing and processing,” he said.

He attributed the improvements to fiscal consolidation, VAT rationalisation, and the removal of distortionary levies aimed at restoring macroeconomic credibility.

However, he stressed that stabilisation alone does not deliver the structural shift needed to build a resilient and competitive economy.

“But let me be clear, stabilisation is not equal to transformation,” the President declared.

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He emphasised that Ghana’s long-term prosperity depends on fundamental changes in industrial productivity, job creation, and export competitiveness—not merely macroeconomic calm.

President Mahama said the dialogue forms part of his pledge to institutionalise annual engagement with the private sector to jointly resolve constraints to business growth.

“The government cannot achieve transformation alone, and equally, the private sector cannot thrive without a government that listens, reforms, and creates an enabling environment,” he said.

The President described the engagement as a critical step toward resetting the partnership between government and industry to accelerate Ghana’s economic transformation.