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Breaking NewsDevelopment Agendatop stories

Government Reaffirms Commitment to Investment-Friendly Environment to Attract Development Financing

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Suleman
Last updated: July 1, 2025 12:55 pm
Suleman
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Vice President of the republic of Ghana, Professor Jane Naana Opoku Agyemang
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In the midst of decline in traditional donor support from partners such as the Netherlands, Sweden, USAID, and Australia which is significantly affecting grassroots interventions, STAR-Ghana Foundation and partners held the Ghana Civil Society forum 2025 on the theme: Reimaging Development Financing and Civil Action – Challenges, Opportunities and the Way forward.

Addressing the Forum on  Wednesday, June 25,2025, the Vice President of the republic of Ghana, Professor Jane Naana Opoku Agyemang said the government is committed to creating an environment that encourages domestic investment and opens up new avenues for development financing.

She stated that, the absence of a specific law governing the Civil Society Organizations (CSOs) space is a critical gap that must be addressed. There is currently no specific law in place that facilitate the activities of CSOs and nurtures the development of the civil society space.

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“We will examine our policies and legislation to ensure easier registration of NGOs, community foundations and philanthropic organizations.”

The  Vice President  emphasized that, such  initiatives would help deepen partnership with community led initiative and strengthen Ghana’s local philanthropic ecosystem.

She expressed that introducing tax incentives and simplifying the registration process for NGOs, community foundations and Philanthropic organizations as a broader reform agenda could improve overall environment for CSOs.

The country faces growing economic constraints which makes it increasingly difficult to meet basic national needs. These realities requires a strategic reorientation towards self-reliance, financial innovation and inclusive growth models, she noted.

Dr. Nii Moi Thompson, chairperson of the National Development Planning commission, in his Keynote address suggested establishing social enterprises and hybrid financing models to generate income while achieving social impact as a means of sustaining CSOs.

He added that, leveraging technology driven fundraising tools such as crowdfunding, block chain philanthropy and mobile money platforms could all help in financing CSOs activities.

Strengthening local philanthropy through engagement with high-net worth individuals, diaspora communities and faith-based organizations are all home-grown strategies which he said can help CSOs achieve self-reliance.

By: Latifa Carlos

 

 

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