The First Deputy Governor of the Bank of Ghana (BoG), Dr Zakari Mumuni, has declared that Ghana’s economic transformation will hinge significantly on the dynamism of the Volta Region, describing it as one of the country’s most underestimated engines of growth.
Speaking at the maiden Volta Regional Stakeholder Engagement in Ho, Dr. Mumuni said the Central Bank was deliberately shifting its approach to ensure that monetary policy is shaped not only in Accra boardrooms but also by the experiences of farmers, traders, transport operators, artisans, and business owners across Ghana.
“National development begins in markets, farms, workshops, and border towns, not just conference rooms,” he stated.
“Your voice must matter in the policy-making process, and the Volta Region has always had a clear voice in Ghana’s economic story.”
Dr. Mumuni highlighted signs of renewed growth and stabilisation, including easing inflationary pressures “felt in every home and every shop.”
He revealed that the Monetary Policy Committee’s bold 350-basis-point policy rate cut, from 21.5 per cent to 18 per cent, is one of the largest in Ghana’s history, paving the way for banks to lend more affordably and for businesses to expand.
Ghana’s economic growth reached 6.3 per cent for the first half of 2025, compared with 5.1 per cent in the same period of 2024, while the Composite Index of Economic Activity surged by 9.6 per cent by August.
On the foreign exchange market, he reported sustained stability, with reserves now at US$11.4 billion, equivalent to 4.8 months of import cover.
“These gains did not happen by accident,” he stressed.
“They are the result of deliberate and disciplined policies, fiscal consolidation, effective forex management, and improved gold export performance.”
Dr. Mumuni emphasised that the Volta Region is not a passive participant in Ghana’s development but a strategic contributor through agriculture, agro-processing, tourism, cross-border commerce, and strong rural banking institutions.
“The Volta Region is not waiting to be invited to Ghana’s economic future. It is already shaping it,” he said.
The BoG delegation, led by the governor Dr. Johnson P. Asiama, earlier visited Hohoe and surrounding communities, holding discussions with traditional authorities and business groups, and paying a courtesy call on the Asogli State.
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