The Asantehene, Otumfuo Osei Tutu II, has called on the Bank of Ghana to accelerate efforts to reduce interest rates, warning that Ghana’s economic recovery cannot be sustained without affordable access to credit for local businesses.

Speaking during a visit to the headquarters of the Bank of Ghana in Accra, Otumfuo Osei Tutu II emphasised the far-reaching impact of monetary policy on the lives of ordinary Ghanaians. He described the central bank as a powerful institution whose decisions influence basic aspects of daily living, including housing, food security, education, and family welfare.

Addressing the Governor of the Bank of Ghana, Dr Johnson Asiama, his deputies, and members of the Monetary Policy Committee, the Asantehene challenged policymakers to find innovative ways to transition the economy from what he described as a “crippling high interest regime” to a more supportive environment that stimulates business growth and wealth creation.

While recognising recent improvements in macroeconomic stability, including signs of exchange rate steadiness, Otumfuo Osei Tutu II cautioned against complacency. He stressed the need for a deliberate focus on lowering borrowing costs to encourage domestic private sector investment, boost production, and create jobs.

The Asantehene’s remarks add to growing calls from business leaders and traditional authorities for policies that prioritise affordable financing as a cornerstone of sustainable economic growth.