Government sets 70% private financing target under Ghana CARES

The Finance Minister, Ken Ofori-Atta, says government is seeking to raise at least 70 percent out of the GH¢100 billion needed to fully implement the Ghana COVID-19 Alleviation and Revitalization of Enterprise Support initiative.

“We have already signaled that 70 percent of the financing will be sought from the private sector and government will do its utmost to create a more conducive environment for them to invest, create jobs and thrive,” Mr. Ofori-Atta said at the launch of the initiative.

To fully implement this programme, he emphasised that government will need the full engagement of private sector partners, both on the international and domestic market.

He explained that the Ghana CARES “Obaatan Pa” programme provides a mechanism to consolidate private sector investment into productive sectors of the economy to create a dynamic regional economy for Ghana.

“We will provide the support to build back boldly but smartly, paying greater attention to inclusive growth especially in the areas of health, agriculture, industrial processing and service delivery,” he said.

The Minister noted that government’s comprehensive approach under this programme is focused on saving lives, as well as protecting the poor and vulnerable, whilst ensuring business rebuilding and growth in sustainable ways.

“So, we look forward to establishing a dynamic national enterprise culture of an open economy with flexibility of labour, capital and product markets. An economy characterised by efficiency, social justice, social mobility and prosperity for all; the preferred destination for business and commerce on our beautiful continent with a common African Continental Free Trade Area market and population of 1.2 billion and a GDP of US$2.5 trillion,” Mr. Ofori-Atta said.