2026 Budget: Business groups seek lower interest rates and tax relief to drive a 24-hour economy

The business community is preparing to submit proposals for the 2026 national budget to the Ministry of Finance ahead of the August 29, 2025 deadline.

The Ministry has invited inputs from business associations, professional bodies, financial institutions, civil society organisations, faith-based groups, and the public to shape the 2026–2029 Budget Statement and Economic Policy. Officials say previous submissions have significantly influenced national budgets.

With the budget presentation set for November 15, the Ghana Union of Traders Association (GUTA) plans to advocate for lower commercial lending and tax rates to reduce the cost of doing business.

GUTA Public Relations Officer Joseph Paddy said that while inflation and the policy rate have fallen, interest rates remain high.

“We’ve seen the policy rate dropping. We’ve seen inflation dropping, but this improvement isn’t reflecting in interest rates, which keeps the cost of doing business high. We propose that regulators set a clear margin between the policy rate and interest rates — ideally not more than 5% or 6%. We also want port charges reviewed, as these make tax compliance harder for businesses,” he said.

The Association of Ghana Industries (AGI) is also preparing its proposals. Greater Accra Regional Chairman, Tsonam Akpeloo, said the group will push for well-defined incentives under the government’s 24-hour economy initiative.

“We want to see specifics on financing and incentives for the 24-hour economy programme — including tax rebates, holidays, and affordable financing options,” he stated.