President John Dramani Mahama has expressed surprise at the speed of Ghana’s economic recovery, describing the turnaround as faster than he had personally anticipated and one that has attracted admiration from major international financial institutions.
Speaking at a thanksgiving service organised by the First Sky Group at the Accra International Conference Centre, the President said the scale and pace of the recovery had impressed officials of both the International Monetary Fund and the World Bank.
“We’re all surprised and shocked at the quick turnaround,” President Mahama said, noting that Ghana has become a reference point for economic stabilisation on the continent. He attributed the improvement, including the sharp fall in inflation from 23.8 per cent to 5.4 per cent within a year, to disciplined policy implementation and what he described as divine grace.
The event marked the 23rd anniversary of the First Sky Group, a Ghanaian-owned conglomerate with interests spanning construction, insurance, hospitality and commodities. Founder and Executive Chairman, Apostle Eric Seddy Kutortse, said the group had created thousands of jobs since its inception and continued to expand into new sectors.
He announced that First Sky Energies is expected to commission a 50-megawatt solar power plant in Yendi, in the Northern Region, by the end of June to feed into the national grid. In addition, a 15-megawatt photovoltaic power station, spanning about 140 acres, is scheduled for completion by the end of March. The projects, he said, reflect confidence in Ghanaian entrepreneurship and local ownership.
President Mahama, who was the guest of honour, reiterated the government’s commitment to supporting indigenous businesses to grow the country’s gross national product (GNP). He explained that while national discourse often focuses on gross domestic product, equal attention must be paid to GNP by empowering Ghanaian-owned enterprises.
He commended First Sky Group for its resilience and ability to thrive across multiple sectors, describing the company’s expansion into renewable energy as timely and strategic.
As First Sky Group marks more than two decades of operations, the President said sustained support for local businesses remains central to Ghana’s economic recovery and long-term growth strategy.