Accra:Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has emphasized the role of decreasing lending rates and improved access to credit in fostering youth entrepreneurship and enterprise development in Ghana. He highlighted these factors during the launch of the maiden edition of "Ghana in Numbers 2025" in Accra.
According to Ghana Web, Dr. Asiama underscored the importance of a stable macroeconomic environment and a resilient financial sector in unlocking the potential of the country's youth population. He addressed the report's theme, "Youth and the Demographic Transition," and stressed the need for access to finance, skills development, and a supportive business environment to translate youth potential into sustainable economic growth.
Dr. Asiama pointed out that recent macroeconomic stability has created favorable conditions for businesses, particularly young entrepreneurs and small enterprises seeking credit. He noted that inflation has remained in single digits for 13 consecutive months, and exchange-rate stability, along with improvements in the banking sector, has bolstered economic confidence. As a result, average lending rates have dropped from 30.25 percent in December 2024 to 15.78 percent in September 2026, making finance more accessible for businesses.
He also mentioned the significant acceleration in credit growth to the private sector, which rose from 0.20 percent in December 2024 to 26.42 percent in September 2026. This reflects stronger lending activity and improved financing conditions, particularly benefiting youth-led businesses that often face capital access constraints.
Beyond macroeconomic measures, Dr. Asiama highlighted the central bank's initiatives to broaden financial inclusion and increase access to formal financial services. These efforts target young people, women, micro, small, and medium-sized enterprises (MSMEs), and underserved communities, aiming to make financial services more affordable and accessible.
Furthermore, Dr. Asiama emphasized the importance of data-driven policymaking in addressing youth development challenges. He described "Ghana in Numbers 2025" as a valuable resource for understanding demographic and economic trends, supporting evidence-based interventions, and fostering informed national discussions on employment, entrepreneurship, and inclusive growth. He expressed hope that the report would serve as a trusted national reference to support transparency and decision-making, contributing to a more productive and prosperous economy for future generations.