Business owners, traders, farmers, and financial institutions in the Volta Region say they want their concerns to directly shape Ghana’s monetary policy, an expectation they clearly expressed during the Bank of Ghana’s maiden Volta Regional Stakeholder Engagement held in Ho on Thursday.
The interactive meeting brought together hundreds of economic actors from Ho, Hohoe, Kpando, Keta, Sogakope, Anloga and the Oti Region, and nearby communities, who spent hours questioning, challenging, and advising the Central Bank’s leadership on how policies affect everyday business survival.
Participants raised issues ranging from lending rates and credit access to cross-border trade frustrations, cedi volatility, taxation pressures, and the cost of transporting goods across the region.
A representative of a farmers’ cooperative said, “If the cost of borrowing doesn’t drop further, farmers cannot expand production. When we struggle, the nation struggles.”
Small business owners also welcomed the outreach, saying direct engagement was long overdue.
“We always hear about monetary policy on the radio, but today they heard us too,” one SME operator told JoyNews.
Representatives from GUTA, rural banks, transport unions, and youth-led enterprises all contributed suggestions to improve the business climate calls that the BoG said would shape future consultations.
Responding to the concerns, First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, reiterated that the Central Bank was committed to deepening its community-based approach to policy formulation.
“We are here because your voice must matter,” he said. “Stability must be felt in your pocket, in your shop, and in your home, not just in reports.”
He highlighted recent economic improvements, including easing inflation, renewed business activity, a historic 350-basis point cut in the policy rate, and strengthened reserves of US$11.4 billion.
Dr. Mumuni said the Central Bank was listening closely because “policy works best when those affected understand and shape it.”
Director of Communications at BoG, Mr. Bernard Otabil, said the engagement mirrors similar interactions held with market women at Makola, GUTA, AGI, and other business associations across Ghana.
He underscored that the Volta and Oti meetings were part of a nationwide effort to improve transparency, rebuild confidence, and ensure macroeconomic outcomes match business expectations on the ground.
The team earlier visited Hohoe to meet traditional authorities and local businesses, rounding off a week of intensive engagements across the region.
Stakeholders who spoke with Joy News said they hoped Thursday’s discussions would influence future monetary decisions in a more direct and meaningful way.
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