Speaking on the sidelines of the Kwahu Business Forum at Mpraeso on Saturday, April 19, Mr. Nyarko said the initiative forms part of the government’s broader strategy to sustain the downward trend in inflation.

“As a government, we have committed and have started bringing down inflation. In fact, we are hoping that with the next inflation announcement, we see a significant improvement,” he noted.

He added that lower fuel prices should translate into reduced transport costs for Ghanaians. “We are seeing that fuel prices are also going down. In the next couple of weeks, we’ll have to engage transport operators so that they will also bring down lorry fares. Once all these happen, it will have a positive impact on inflation, and it will help us as a country,” Mr. Nyarko said.

The Deputy Minister also highlighted the significance of the Kwahu Business Forum in fostering collaboration between government, industry, and other stakeholders. He described the presence of the Minority Leader at the event as a reflection of national unity and inclusive governance.

“The presence of the Minority Leader and everybody shows that the government wants to bring everybody — the private sector, everyone — together so that we can push the growth that we need in this country,” he stated.

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The funding cut has already prompted President John Mahama to direct Finance Minister Dr. Cassiel Ato Forson to seek alternative financial sources to bridge an estimated $156 million gap.

During his vetting on Monday, February 24, 2025, Thomas Ampem highlighted Ghana’s long-standing dependence on donor support for development initiatives but noted a consistent decline in aid inflows over the years.

“This happened at a time when we are in the process of preparing the 2025 budget, so I am sure the Minister will be able to make provisions to bridge the gap. This should bring us to the larger conversation about aid. We know that aid to our country has been dwindling over the years,” he stated.

He cited examples such as the Danish International Development Agency (DANIDA) ceasing its financial support to Ghana and the United Kingdom reducing its aid budget from 0.75% of its Gross National Product (GNP) to 0.5%.

“This should tell us that aid to our country will eventually dwindle to zero. The only difference between DANIDA and other donor funding compared to USAID is that the USAID withdrawal announcement came suddenly. But we have seen the trend, and it is important that we begin to plan our lives without aid and see what we can do for ourselves,” he told Parliament’s Appointment Committee.

Mr Ampem stressed that achieving economic self-reliance would require strengthening domestic revenue mobilization, expanding the tax base, and improving public spending efficiency.

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