The Finance Minister, Ken Ofori-Atta, has highlighted the government’s commitment to decentralised development, investing GH¢422.1 million to create and resource six new administrative regions—the most extensive investment since Ghana’s independence.
He announced this in the 2024 budget presentation on November 15,2023 under transformative investments.
The Finance Minister emphasized a policy of preferential options for the poor, showcasing historic investments in social mobility and protection for vulnerable populations.
Key achievements since 2017 include improved access to quality SHS education for 5.7 million Ghanaians, increased enrolment in the School Feeding Programmes, and the reform of the NHIS to enhance health service delivery to 16 million Ghanaians.
In line with the commitment to economic essentiality, Minister Ofori-Atta expressed confidence that the investments made over the seven years would significantly transform Ghanaian society.
He stressed the importance of breaking the cycle of poverty and expanding opportunities for every Ghanaian.
The Finance Minister also detailed substantial investments in the private sector to boost productivity and job creation. Investments totaling GH¢32.7 billion were made to ensure a stable power supply, while GH¢25.3 billion facilitated the repositioning of the financial sector. Notable initiatives include supporting 100,000 young graduates through NABCO, investing in road infrastructure, and creating over 2.3 million jobs in the private and public sectors.
Capital spending, essential for the country’s future, saw investments in expanding the railway network, constructing fish landing sites and fishing harbours, improving community infrastructure, promoting inner-city development, and expanding the road network.
The National Identification Scheme received GH¢1.7 billion to provide security-sensitive ID cards for 17.5 million eligible Ghanaians. Minister Ofori-Atta highlighted the foundation laid for a prosperous future through digitalisation, providing more convenience, efficiency in delivering public services, and safeguarding national interests.
Despite the achievements, the Finance Minister stressed the need to reinforce stability and guarantee decent jobs. Through the 2024 budget, the government aims to deliver more investments across the real sector, placing the economy on a firm growth trajectory. The focus includes concluding negotiations with the Official Creditor Committee, collaborating with the private sector through the Ghana Mutual Prosperity Dialogue, and scaling up support for young entrepreneurs.
In a promising announcement, the Youth Employment Agency (YEA) is concluding negotiations for a call center that could create 20,000 local jobs, positioning Ghana as a global BPO powerhouse with the goal of employing over 250,000 Ghanaians.
Minister Ofori-Atta concluded by expressing the government’s commitment to securing Ghana’s leadership in the global arena, hosting the headquarters of the AfCFTA and leading the charge in the fight against climate change as the agreed host of the Climate Vulnerable Forum (CVF) Secretariat.
Source: Mybrytfmonline.com/Obed Ansah
