We will expand the economy to create jobs and prosperity — Mahama

President John Dramani Mahama has pledged to move Ghana beyond macroeconomic stability into a phase of economic expansion aimed at job creation and shared prosperity for citizens.

He said his administration has already recorded gains in stabilising the economy, citing reduced inflation, improved currency performance and renewed investor confidence.

The President, however, stressed that stability alone is not sufficient to transform living standards.

Speaking at the 2026 National May Day celebration held at Jackson Park in Koforidua on Friday, May 1, he said the economic recovery efforts so far were only the beginning of a broader transformation agenda.

“We’ll not just manage the economy, we’ll expand it to create jobs and prosperity for the Ghanaian people,” he said.

Mr. Mahama added that “a stable economy is only the foundation. The aim is a better life for you and your family.”

He explained that his administration's next phase of reforms will prioritise value addition, industrial expansion and digital economy investments to boost employment, especially for young people.

He announced that the Ministry of Finance will soon present a new economic policy focused on directing 1% of GDP annually into selected high-impact sectors expected to generate large-scale jobs.

The President also referenced the recently approved 24-hour economy policy, saying it will encourage round-the-clock production, especially in manufacturing, with incentives for companies that operate multiple shifts.

He further disclosed that a new labour bill is nearing completion to regulate emerging work arrangements such as remote work and gig-based employment and also strengthen workers’ rights and pension protections.

The President also touched on agriculture, revealing that government intends to process at least 50% of Ghana’s cocoa locally as part of efforts to create rural jobs and increase value addition.

“We are resetting this nation for a quantum leap beyond the stabilisation of the past towards a future of shared prosperity,” he assured.