The Ghana National Chamber of Commerce and Industry (GNCCI) has welcomed the 25% policy rate announced by the Bank of Ghana, describing it as a move to cushion players within the business community.

According to the chamber, the decision aligns with a formal request submitted to the Central Bank on July 29, 2025, calling for a reduction in the policy rate to improve access to credit and spur private sector activity.

In a statement issued on July 30, 2025, as sighted by GhanaWeb Business, the chamber cited improvements in macroeconomic indicators such as declining inflation, a strengthening of the cedi, and easing global financial conditions creating a conducive environment to lower interest rates.

“This policy move is a critical step toward easing the cost of doing business. It will help stimulate investment in key sectors including manufacturing, agribusiness, pharmaceuticals, and other value-added industries particularly within the context of the African Continental Free Trade Area (AfCFTA),” it stated.

The chamber commended the MPC’s efforts to strike a balance between maintaining price stability and promoting inclusive, sustainable growth.

It further expressed confidence that the rate cut, when combined with ongoing fiscal consolidation and regulatory reforms, would help restore business confidence and accelerate economic transformation.

However, the GNCCI urged commercial banks and financial institutions to reflect the new policy rate in their lending rates to ensure the intended impact reaches businesses, calling on the government to provide additional support for small and medium-sized enterprises (SMEs) and export-oriented industries.

“The GNCCI remains committed to working closely with the Bank of Ghana and all stakeholders to foster a business-friendly environment that drives private sector-led growth and national development,” it added.

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