Finance Minister Dr Cassiel Ato Forson says Ghana is seeking to achieve investment-grade status in the shortest possible time, as the government works to consolidate economic stability and attract greater private-sector investment.
Dr Forson made the remarks during a meeting with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), who is in Ghana for engagements on private investment and economic transformation.
The Finance Minister said the government’s immediate priority was to use the gains from economic stabilisation to transform the structure of the economy, with a focus on commercial agriculture, value addition and job creation.
He said the government was also working to ensure that the reforms being implemented become institutionalised, to prevent a recurrence of the economic crisis Ghana experienced in 2022.
“Our long-term goal is to ensure that this reform that we are putting in place are institutionalised to avoid future crisis of the scale that we saw in 2022.”
Dr Forson said the government’s strategy was to position the private sector as the main driver of Ghana’s economic transformation, but stressed that sustained economic stability was necessary to make the country attractive to investors.
“Going forward, we want to use this stability to transform the economy with the private sector leading,” he said.
He added that Ghana would require support from the IFC to advance its investment-grade ambition.
“We need the support of the IFC to push up Ghana to become an investment-grade country,” he said.
The meeting formed part of Mr Diop’s three-day visit to Ghana from September 15 to 17, during which he is engaging government officials, businesses, entrepreneurs and other stakeholders on ways to mobilise greater private investment.
The discussions are focused on strengthening businesses, improving competitiveness, expanding access to finance and creating jobs, with agribusiness, industrial development, renewable energy, education, skills development and the creative economy among the areas of interest.
The IFC said its commitments in Ghana increased to US$670 million in the 2026 financial year, through its own account and mobilisation efforts, compared with US$61 million in 2021.
The Corporation has supported Ghanaian businesses through financing and advisory services, including initiatives targeting the cocoa value chain, food security, manufacturing, renewable energy, industrial infrastructure and access to finance for small and medium-sized enterprises.
Mr Diop has served as IFC Managing Director since March 2021 and leads the institution’s work in mobilising private-sector investment in emerging markets.