The Chief of Staff, Julius Debrah, has said government’s role in wealth creation goes beyond regulation, stressing that the state both facilitates and actively participates in driving economic growth through targeted policies and programmes.

Speaking in a keynote address delivered on his behalf at the maiden Social Democrats’ Convocation, he explained that social democracy—often described as welfare capitalism or a social market economy—relies on strong collaboration between government and the private sector to promote inclusive development.

He noted that such a system is designed to benefit not only businesses and the middle class but also vulnerable and marginalised groups.

“I can say without equivocation that the role of the state is both facilitative of and participative in the generation of wealth through business policies and programmes,” he stated.

The event, organised by the Legal Green Association at the moot court of the GIMPA Law School, brought together policymakers, academics and stakeholders to discuss the principles of social democracy.

Mr Debrah identified macroeconomic stability as a key intervention by the administration of John Dramani Mahama, achieved through fiscal discipline and appropriate regulatory measures.

According to him, the approach has resulted in exchange rate stability, declining inflation, lower interest rates, a reduced debt burden and easing prices of goods and services. He cited inflation at 3.2 per cent for March and external reserves of US$14.5 billion, representing 5.8 months of import cover.

He said these gains have helped reduce the cost of doing business and reposition Ghana as an attractive destination for investment.

The Chief of Staff also highlighted infrastructure development as another critical pillar of government’s facilitative role, noting that investments in roads, hospitals, schools and factories are essential to supporting business growth.

“Our elders say if you want to rear chicken, you first need to build the chicken coop,” he said, using the analogy to emphasise the importance of infrastructure in economic development.

He further stated that the government is not only creating an enabling environment but is also directly involved in wealth generation, pointing to improved performance among state-owned enterprises.

According to him, several public institutions—including banks, manufacturing firms and oil processing and marketing companies—have recorded strong financial turnarounds after previously facing significant losses during recent economic challenges.

The convocation was held in partnership with the Ghana Institute of Social Democracy and featured a lecture on the philosophy of social democracy by its Rector, William Ahadzi.

Other attendees included Benedica Lasi, Mustapha Gbande, and Eric Adjei, among several dignitaries.