PETROSOL’s CEO urges Ghana to turn economic stability into sustainable growth

The Chief Executive Officer of PETROSOL Platinum Energy PLC, Michael Bozumbil, has called on the Government of Ghana to protect the country’s economic recovery through consistent policies, prudent public spending and deliberate support for indigenous businesses. Delivering the keynote address at the 50th Annual General Meeting (AGM) of the Ghana National Chamber of Commerce and Industry (GNCCI), held on Wednesday, 28 October 2026, at the Ghana Shippers’ House in Ridge, Accra, Mr Bozumbil said improving economic indicators were encouraging, but should be seen as signs of recovery, not proof that the economy had fully recovered. Speaking on the theme, “From Stability to Growth: Promoting a Resilient and Future-Ready Private Sector,” he compared economic recovery to a patient whose condition has stabilized but who still needs treatment and monitoring.

He explained that the real strength of the economy is reflected in businesses that create jobs, generate income and contribute to national development. “The first few years of economic stability simply mean that the economic recovery process has started. It does not mean that the economy has fully recovered and that we can return to business as usual. ” A call for policy discipline and stronger local businesses Mr Bozumbil urged government to maintain a predictable policy environment, prepare realistic budgets, spend within its means and build financial buffers to withstand future shocks. He commended the government for signing up to the International Monetary Fund’s Policy Coordination Instrument (PCI), despite not seeking funding from the Fund, and cautioned against decisions that could reverse the gains made ahead of the 2028 elections. He called for stronger support for credible Ghanaian businesses through transparent…