Asantehene Otumfuo Osei Tutu II has called on the Bank of Ghana to consider measures that will ease interest rates to help stimulate domestic private investment, particularly in the industrial sector.
Speaking during a high-profile courtesy visit to the Central Bank on January 6, 2026, the revered monarch emphasized the adverse effects of high interest rates on local businesses, stating that such rates hinder the growth of indigenous industries and discourage entrepreneurship.
“High interest rates cannot stimulate domestic private investments in industry,” Otumfuo stated, urging monetary authorities to strike a balance between inflation control and support for the productive sectors of the economy.
His comments come at a time when many Ghanaian businesses have been raising concerns about access to affordable credit and the rising cost of borrowing, which they say stifles innovation and expansion.
Otumfuo highlighted the importance of creating a conducive financial environment that encourages local investors to thrive, thereby reducing Ghana’s over-reliance on imports and external funding.
The visit, which took place at the Bank’s head office in Accra, formed part of the Asantehene’s broader initiative to engage national institutions on matters of economic development, stability, and inclusive growth.
He applauded the Bank of Ghana for its efforts in maintaining monetary discipline but stressed the need for policies that also promote real-sector growth and long-term sustainability.
The meeting included the Governor of the Bank of Ghana, senior officials, traditional leaders, and key stakeholders from the financial sector.