A Ghanaian entrepreneur says early 2026 has brought relative economic stability but declining consumer spending, raising concerns about business growth in the months ahead.
Benjamin Anyanah, CEO of BC Bencyn Group, told Nicholas Azebire on Dreamz FM that while a stable exchange rate and earlier fuel price reductions had improved planning for businesses, overall sales remain low.
“Consumption is down. Sales are down,” he said, attributing the slowdown to post-holiday financial pressures, school fee payments and reduced purchasing power among consumers.
He added that sectors such as agriculture are also affected, with food surpluses leading to lower prices and reduced income for farmers.
Despite the slowdown, Mr Anyanah described the economic outlook as “not bad,” noting that improved stability in the cedi has helped businesses manage costs and plan ahead, especially those dependent on imported inputs.
However, he warned that long-term growth depends on deliberate government support for local enterprises, including access to affordable credit and what he called “patient capital” — long-term funding that allows businesses time to grow.
He pointed to international examples, including support systems in developed economies, where governments actively invest in local innovation and industry.
“Success goes along with failure,” he said, urging policymakers to create an environment where entrepreneurs are not afraid to take risks.
Mr Anyanah also highlighted the importance of market access initiatives and trade support systems, saying such measures could help local businesses expand and compete more effectively.
He expressed optimism that economic activity would pick up after the fasting period and into the rainy season, when spending typically increases.
