Restoring Economic Stability: Dr. Segbefia Outlines Mahama's Financial Sector Reset To The NDC Grassroots

The Aspiring National Vice Chairman of thr National Democratic Congress (NDC), Dr Edem Segbefia brings a message of grassroots empowerment and positive change to the Western Region, highlighting President John Dramani Mahama’s efforts to reform the financial sector. These initiatives aim to bring stability and relief to every household, business, and community.

Dr. Edem Segbefia asserts that the NDC government under President John Dramani Mahama has stabilized Ghana’s economy since Jan 2025, delivering significant currency appreciation and strengthening the financial sector. 

Key achievements cited include controlled inflation, reduced interest rates, decreased debt, and increased banking industry assets. 

He indicated that the same economy that was broken and unpredictable two years ago is now stable, growing, and giving hope back to the ordinary Ghanaian.

He noted that the banking industry was in terrible shape prior to His Excellency taking office, plagued by enormous debt, nonexistent infrastructure, and shutdown threats, to name a few. 

He said the government has now altered the story and restored optimism to the industry: 

He asses that President John Dramani Mahama Has brought back hope to Ghana’s financial Sector Since Taking Office.

He pointed out that since returning to power, President John Dramani Mahama has stabilized and reformed the financial sector to the admiration of all stakeholders.

He said since returning to power in Jan 2025, President Mahama’s administration has focused on stabilizing the macroeconomy and restoring confidence in the financial sector Dr Edem Segbefia stated in changing the narrative and mentioned the following as achievement to support his statement.

1.Currency Stabilization & Cedi Appreciation.

The cedi appreciated by 40.7% against the US dollar, 30.9% against the pound, and 24% against the euro in 2025. By May 2026, the cedi was trading around GH¢10-11 to the dollar, reversing years of depreciation.

This stability reduced imported inflation and gave businesses better planning certainty. Inflation Brought Under Control Inflation fell from 23.8% in Dec 2024 to 3.8% in Jan 2026. Food inflation dropped from 28.3% in Jan 2025 to 4.9% in Dec 2025.

 Core inflation continued declining into 2026, reflecting subdued underlying price pressures. Interest Rates & Borrowing Costs Reduced Treasury bill rates plunged from over 30% at end-2024 to about 11% in 2025. 

Short-term government securities traded as low as 6.6% in 2026, easing borrowing costs and improving liquidity for businesses. 

The commercial lending rates fell from peaks of ∼47% in 2024 to around 13% in 2026.

He pointed out that Debt Restructuring & Fiscal Discipline Public debt reduced by GH¢82.1 billion, with debt-to-GDP falling from 61.8% to 45.3%. 

He said settled US$1.4 billion in debt service in 2025 to restore credibility with international partners. 

He noted that yhe government achieved a fiscal surplus of 0.1% of GDP in Q1 2026 through prudent management. Stronger External Position & Reserves Gross International Reserves rose to US$14.4 billion as of May 2026, covering 5.7 months of imports.

He mentioned that current account surplus widened to US$3.1 billion in Q1 2026, supported by gold, cocoa exports, and remittances.

Dr Segbefia asserted that Bank of Ghana assets hit GH¢321.4 billion in March 2026, driven by foreign assets and gold reserves. Banking Sector Strengthened Industry assets grew 26.6% to GH¢493.9 billion in 2026.

He mentioned that that the Capital Adequacy Ratio improved to 22.3% from 17.5% a year earlier. Non-Performing Loan ratio declined from 23.6% to 18%, showing stronger asset quality. 

According NDC National Vice Chairman hopeful, the Credit Rating Upgrades & Market Confidence Fitch, Moody’s, and S&P all upgraded Ghana’s ability to repay debt on time, adding that Business leaders and CDD-Ghana described the macroeconomic stability as “exceptional”. 

Policy Reforms & Tax Relief Abolished betting tax, e-levy, and emissions tax in the 2025 budget to ease the burden on citizens. Introduced the Ghana Gold Board to formalize gold exports, reducing smuggling and boosting forex inflows.

He asserted that the government has launched the Ghana Accelerated National Reserve Accumulation Policy targeting 15 months of import cover by 2028. 

He stressed that the Growth Recovery GDP expanded 6.1% in the first 3 quarters of 2025, the fastest since 2019. With Non-oil GDP grew 7.5%, showing broad-based expansion in the real economy. 

He said the Ghana’s GDP reached US$113 billion in 2025, placing it among Africa’s top 10 economies, addingthat the Impact: Lower inflation, a stronger cedi, reduced borrowing costs, and debt relief have restored purchasing power for households and improved conditions for businesses.

" As CDD-Ghana noted, Ghanaians have experienced “real price reductions” in fuel, food, and imported essentials. 

"Comrades, if the government works to make people’s lives better, we have a great chance to hold onto power for a very long time, which greatly benefits both grassroots and myself. When the NDC is in power, the influence is always felt first at the grassroots level.

" I am aware that we have high expectations, and with good reason. However, let’s continue to assist the government in carrying out its mandate and the obligation of Ghanaian. We can’t all grin together unless we do that We shall all profit from the strength we possess if we have a little patience and cooperation. 

He called on the supporters and members of the NDC to continue to support the government, stand up for its efforts, and maintain our focus, our sacrifice and faith won’t be in vain.