The CEO of Dalex Finance, Joe Jackson, has urged the government to reduce its borrowing in order to make credit more affordable for Ghanaian businesses.
Speaking during a GhanaWeb X Space discussion on July 23, Jackson explained that excessive government borrowing limits the availability of funds for the private sector, resulting in high interest rates that hinder access to credit.
“If we want our businesses to be competitive, then credit must be cheaper. That will only happen if government cuts back on borrowing," he stated.
He noted that lower interest rates are essential for boosting productivity and enabling local companies to compete both domestically and internationally.
However, he emphasised that this can only be achieved if the government reduces its borrowing.
“Businesses are struggling to access affordable capital. The cost of credit is too high, and one key reason is that government is borrowing too much from the same financial system,” Joe Jackson stated.
He also called for greater fiscal discipline and a reduction in domestic borrowing, saying this would ease pressure on the financial sector and improve access to funds for private enterprises.
Listen to the full discussion:
— GhanaWeb (@TheGhanaWeb) July 23, 2025
DR/AE
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