The Deputy Minister-Designate for Finance, Hon. Thomas Nyarko Ampem, has stated that he will support the Minister of Finance in achieving the government’s target of reducing inflation to 8 per cent.

He acknowledged that while this goal would be challenging, it remains attainable with the right policies and strategies.

Speaking at his vetting before the Appointments Committee on February 24, 2025, Mr Ampem highlighted the significant role of food inflation in driving overall inflation rates. He stressed that any meaningful effort to reduce inflation must prioritize lowering food prices.

According to the Deputy Finance Minister-Designate the Finance Ministry would collaborate with the Ministry of Agriculture to enhance food production and improve supply.

Responding to the questions about the challenges, at the Bank of Ghana (BOG), Mr Nyarko said, the tax payers money must not be used to capitalize the BOG. He added that he hope the BOG would make profit and use that profit to fund their equity.

Still at the Appointments Committee, the Deputy Minister-Designate for Trade, Agribusiness, and Industry, Sampson Ahi, promised to oversee the establishment of a cocoa processing company in the Western North Region by the end of his tenure.

He emphasized the importance of industrialization in driving economic growth and job creation, particularly in Agric enclaves.

The Deputy Minister-Designate for Trade, Agribusiness, and Industry further stated that a committee would be set up by President Mahama administration, with the responsibility of determining cement pricing in Ghana.

Story by: Isaac Clottey