The government’s 2026 budget has committed GH₵401 million to establish a Women’s Development Bank and GH₵110 million for its flagship 24-hour economy initiative.
Casper Sunday Kampoli, Director of Research and Innovation at the National Entrepreneurship and Innovation Programme, outlining the allocations while discussing the budget themed “Resetting for Jobs, Growth and Economic Transformation,” said the allocations show government’s commitment to growth.
“There’s 401 million Ghana cedis for what? Women’s Development Bank,” Kampoli told A1 Radio. “About GH₵110 million has been allocated for 24-hour economy.”
The budget addresses concerns about women’s welfare, including allocating more than GH₵25 million to provide free sanitary products, addressing period poverty.
District assemblies will receive significantly increased funding, with 80% of the District Assemblies Common Fund going directly to local governments, up from previous years. The fund includes specific allocations: 25% for 24-hour economy markets, 20% for continuing abandoned projects, 10% for sanitation and 10% for government operations.
“The money the assemblies have this one year is more than what Akufo-Addo gave them for two years,” Kampoli said. “If you take money from central government to local government, you are strengthening local economies.”
The budget also includes GH₵200 million for buffer stock to support secondary schools and help farmers facing production gluts. President John Dramani Mahama has directed all government agencies to purchase supplies locally.
“You can’t import rice to any secondary school. You can’t import meat to any secondary school. You can’t import eggs to any secondary school,” Mr. Kampoli said. “This intervention of directing all government agencies to buy from the local … is going to make sure that” farmers have markets.
Government interventions will target farmers experiencing gluts in onions and tomatoes, with buffer stock mobilizing surplus produce.
Mr. Kampoli said the administration is implementing prudent fiscal management after reducing wasteful spending. The government has cut ministers from 124 to 60, eliminated fuel coupons for officials, and established accountability measures.
“Every one cedi of the public fund that is spent must give value to the everyday Ghanaian,” he said.
Electricity Company of Ghana’s revenue has increased from GH₵900 million to GH₵1.7 billion, demonstrating improved efficiency, Kampoli said.
Finance Minister Dr. Cassiel Ato Forson presented the budget statement to Parliament on Thursday.
Source: a1radioonline.com|101.1Mhz|Mark Kwasi Ahumah Smith|Bolgatanga
