Government needs to intentionally support indigenous businesses — Professor Bokpin

Economist and finance Professor Godfred A. Bokpin has emphasized that no economy can achieve sustainable and transformative growth without deliberate support for Indigenous businesses.

Speaking at the 2025 National Budget Review, organized by the Ghana National Chamber of Commerce and Industry (GNCCI) in collaboration with Absa Bank Ghana, Prof. Bokpin urged the government to strategically assist businesses across various sectors. He highlighted the need for structured policies to help businesses scale from micro to medium and eventually to large enterprises.

He stressed the importance of increasing local content in key industries such as banking, telecommunications, and mining. However, he cautioned that political victimization of businesses based on party affiliations hampers economic progress.

Prof. Bokpin also called for a legislative framework to attract private capital into infrastructure development through public-private partnerships. He argued that Ghana’s infrastructure deficit requires a structured approach to financing rather than relying solely on government expenditure.

On the ongoing International Monetary Fund (IMF) program, he advocated for renegotiation, stating that its current structure may not be sufficient to lift millions of Ghanaians out of poverty.

Meanwhile, GNCCI CEO Mark Badu Aboagye highlighted opportunities in the agriculture sector, where the government is set to invest GHC 1.5 billion. He assured that the Chamber will simplify the budget for its members and closely monitor implementation to ensure accountability.