Leverage 2026 Budget for Real Economy Transformation – Private Sector

As Finance Minister Dr. Cassiel Ato Forson readies to present the 2026 Budget and Economic Policy, Ghana’s private sector is urging the government to pivot from macroeconomic stability towards policies that directly boost productivity and business growth.

The recent KPMG–UNDP 2026 Pre-Budget Survey reveals broad business consensus that while Ghana has made strides in achieving macroeconomic balance, the focus must now shift to tangible improvements in the real economy. Firms across industries have identified five pressing priorities they believe are critical to accelerating economic recovery and sustaining investor confidence.

Key demands center on unlocking affordable credit, ensuring stable and reliable energy supply, simplifying the tax regime, bolstering support for SMEs, and promoting sustainable, green growth.

High credit costs and restricted access to long-term financing remain major obstacles for many micro, small, and medium-sized enterprises (MSMEs). The survey calls for expanded concessional loan schemes, wider credit guarantees, and targeted grants to ease liquidity constraints. Businesses also emphasize fast-tracking the operationalization of the Women’s Development Bank and the creation of a Domestic Credit Rating Agency to improve lending transparency.

Unstable power supply and rising energy tariffs impose significant burdens on competitiveness. The private sector advocates for stable tariff policies, greater investment in renewable and off-grid energy sources, and transparent frameworks for energy cost recovery. Enhancing transport and digital infrastructure also features prominently, with broad support for the proposed Infrastructure Credit Guarantee Institution to attract private capital for industrial parks, logistics hubs, and port development.

Businesses want a tax system that is fair, simplified, and consistent. They highlight issues with overlapping taxes, sudden policy shifts, and unclear timelines, which impede planning. Recommendations include streamlining levies, abolishing outdated taxes like the COVID-19 Levy, publishing clear annual tax calendars, and introducing targeted incentives for manufacturing, green industries, and SMEs to stimulate job creation.

Recognizing SMEs as engines of employment and innovation, the private sector calls for stronger investments in technical and vocational education, apprenticeships, and workforce development. Establishing SME support desks and enhancing “Made in Ghana” procurement policies are seen as key to fortifying local value chains and increasing domestic content in public projects.

Sustainability is emerging as a core business priority aligned with global trends. The survey urges green tax credits, climate finance incentives, and public–private partnerships to support renewable energy, waste recycling, and circular economy models. Such policies are deemed essential for boosting Ghana’s competitiveness and attracting environmentally conscious investors.

In conclusion, Ghana’s private sector is sending a clear message: the 2026 Budget must go beyond maintaining macroeconomic stability to actively invest in the foundational drivers of sustainable economic growth, business expansion, innovation, and job creation in the real economy.