The Executive Chairman of the McDan Group, Daniel McKorley, is urging Ghana to ensure that recent economic improvements translate into real benefits for businesses and ordinary citizens.
He cautioned that economic recovery means little if people do not feel the impact in their daily lives.
Speaking at the launch of the 10th Ghana CEO Summit in Accra, Mr. McKorley acknowledged progress in the economy, particularly declining interest rates and lower inflation.
He also commended the government and the Bank of Ghana for their role in achieving these gains.
“It is important to comment that as we speak, interest rates are down. We have to commend the government and the Bank of Ghana. This is very significant progress,” he said.
Despite this progress, he stressed that improvements at the national level must be reflected in everyday economic conditions.
He noted that stability in key economic indicators does not automatically ease the burden on households and small businesses.
“Maybe stabilizing the macro-economy, but we have to also make sure that the micro-economy is affected with this,” he said.
Mr. McKorley highlighted that many Ghanaians continue to face high prices in the markets, even with easing inflation, pointing out that the cost of basic goods has remained persistently high over the years.
“Because the price of cake at the market is the same, or is getting worse, for the last 10 years,” he said.
He added that the recent economic gains present an opportunity for Ghana to rebuild confidence and attract investment, which could support long-term stability if managed properly.
However, he emphasized that true recovery should ease pressure on consumers and make it easier for businesses to operate, noting that the real test of success is how much the economy improves people’s daily lives, not just the numbers.
