Government plans measures to enable banks lend more to businesses

Finance Minister Ato Forson has announced plans to strengthen bank lending and reduce the cost of borrowing as part of efforts to make financing more accessible to businesses in Ghana. Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, he said government would work with financial institutions to improve access to credit for businesses, farmers and manufacturers. 2027 Budget: Ato Forson blames raw commodity dependence for Ghana's economic instability He explained that the move would help businesses secure funds to expand their operations, invest in equipment and create jobs, particularly for young people. According to the Finance Minister, government will work through the Development Bank Ghana, Ghana Exim Bank and participating financial institutions to increase funding for productive businesses. He said government would also use credit guarantees, equipment leasing and export finance to help businesses that struggle to meet the requirements for bank loans. “From the market woman seeking working capital to the manufacturer investing in new machinery, Ghanaian enterprises need financing that supports growth,” he told Parliament. Ato Forson added that government would promote long-term financing to give farmers and industrialists enough time to invest, produce and generate income before they are required to repay their loans. He further stated that government intends to reduce the cost of capital to single digits to make borrowing more affordable for businesses. “Our ambition is to bring the cost of capital into single digit and make finance more widely available,” he said. The Finance Minister noted that the measures would be supported by continued fiscal discipline, which he believes will create more room for banks to lend to private businesses. He added that government support would be transparent and tied to investment, production and employment to ensure that the financing reaches businesses that can contribute to economic growth. ANAS/EB 2027 Budget: 'Come for your money' – Dr Ato Forson assures DDEP bondholders Source: www.ghanaweb.com
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