The MP for Sissala East in the Upper West Region, Mohammed Issah Bataglia, says the recent reduction in the policy rate demonstrates the government’s commitment to creating a more supportive environment for businesses in Ghana.
According to him, government efforts over the past 11 months, including stabilising the cedi and reducing inflation, reflect a deliberate strategy to ease pressure on the business community.
He believes the latest policy rate cut is a significant step toward boosting confidence and lowering the cost of doing business.
Bataglia, who also serves on Parliament’s Trade Committee, noted that the reduction will help minimise the high interest rates on loans, enabling businesses to borrow more and expand without facing excessive challenges.
Speaking on the AM Show on the JoyNews channel on Monday, December 1, Mohammed Issah Bataglia said the move shows the government’s readiness to ease the burden on the private sector.
“I believe that the consistency is clear, and I’m sure that once the right things are done — the discipline continues, the consolidation continues — trust will be built among the business community for us to be able to have cheap credit to run our businesses. I think the cry of the business people is no longer about the dollar or inflation; it’s now about how to do business comfortably without difficulty,” he said.
He added that Ghanaian businesses are increasingly concerned about staying competitive with counterparts in neighbouring countries and believes the policy rate cut — alongside continuous government efforts — will strengthen local operators and support a more robust business climate.
The Bank of Ghana recently reduced its Monetary Policy Rate by 350 basis points to 18 percent, marking one of the steepest easing measures in recent years.
The Central Bank attributed the decision to sustained gains in curbing inflation, a stabilising currency, and improved macroeconomic conditions that provide room to support growth.
The reduction is expected to translate into lower lending rates in the medium term, offering relief to businesses and households that have been burdened by high borrowing costs.