KPMG 2026 Ghana Budget Survey: Businesses Demand Low-Cost Financing and Fiscal Cuts for Growth

Explore how Ghanaian companies, especially SMEs, are pushing for affordable loans, grants, and policy changes in the upcoming 2026 National Budget to overcome liquidity challenges and boost the 24-hour economy.

Introduction

The KPMG 2026 Pre-Budget Survey reveals critical insights into the priorities of Ghanaian businesses ahead of the national budget formulation. Conducted across key economic sectors, this survey underscores the urgent need for low-cost financing in Ghana, fiscal reductions, and supportive policies to sustain economic recovery and promote inclusive growth. With macroeconomic stabilization acknowledged from prior efforts, companies now seek tangible measures like grants, soft loans, and credit guarantees to address persistent barriers such as high interest rates and liquidity shortages.

This pedagogical breakdown explains the survey’s findings, their implications for SMEs, and how they align with government initiatives like the 24H-Economy programme. Optimized for stakeholders searching for 2026 Ghana Budget requests, SME grants Ghana, and KPMG budget survey Ghana, this article provides verifiable data and actionable guidance.

Analysis

Survey Methodology and Scope

The KPMG survey targeted businesses in vital Ghanaian sectors to gauge the impact of current fiscal and monetary policies. Its goal: deliver evidence-based recommendations for the 2026 National Budget and future cycles. Respondents highlighted a fragile business climate despite successful macroeconomic stabilization noted in the 2025 Budget perception survey.

Economic Context in Ghana

Ghana’s economy has shown resilience post-stabilization, with private sector recognition of government efforts. However, Micro, Small, and Medium Enterprises (MSMEs) face ongoing hurdles: liquidity constraints, elevated interest rates, and limited credit access. These factors hinder production expansion, job creation, and engagement in flagship programs, stalling inclusive development.

Top Priorities Identified

Central demands include policy continuity, fiscal relief, and an enabling environment. Businesses emphasize that without affordable financing, the full benefits of initiatives like the 24H-Economy—aimed at round-the-clock operations—remain unrealized.

Summary

In summary, the KPMG 2026 Ghana Budget survey positions access to low-cost financing as the foremost request, with 58 respondents advocating for grants, affordable loans, and working capital support. Over 85% believe SME-specific grant or matching-fund schemes would enhance equipment investments and operational capacity. Fiscal reductions complement these by easing financial pressures, fostering a stable platform for growth amid recognized stabilization successes.

Key Points

Practical Advice

For SMEs Seeking Low-Cost Financing

Ghanaian SMEs should monitor the 2026 Budget announcements for new grant programs and loan schemes. Prepare by compiling financial records, business plans, and evidence of liquidity needs. Engage with bodies like the National Board for Small Scale Industries (NBSSI) or Ghana Enterprise Agency (GEA) for pre-qualification in credit guarantees.

Leveraging Fiscal Reductions

Anticipate tax relief or duty reductions on equipment imports. Businesses can optimize by reviewing current tax filings for eligible deductions and participating in public consultations on the budget to amplify voices for fiscal cuts.

Steps to Align with 24H-Economy

To capitalize on low-interest credits, assess operational readiness for extended hours. Develop proposals showing job creation potential, as this strengthens funding applications under government programs.

Pro tip: Join sector associations surveyed by KPMG to stay updated on advocacy efforts, ensuring your business is positioned for affordable business loans Ghana and related opportunities.

Points of Caution

Risks of Dependency on Government Funding

While grants and soft loans offer relief, over-reliance may delay internal efficiency improvements. Businesses should pair public support with cost-control strategies to avoid debt traps from mismatched repayments.

Interest Rate Volatility

Even low-cost options carry risks if economic conditions shift. Monitor Bank of Ghana policies, as high baseline rates could inflate effective borrowing costs.

Implementation Delays

Budget requests often face rollout hurdles. Diversify funding sources, including private lenders or export financing, to mitigate gaps in SME financing Ghana.

Comparison

2026 vs. 2025 Budget Surveys

The 2025 KPMG survey praised macroeconomic stabilization, with private sector endorsement. In contrast, 2026 amplifies financing specifics: from general policy impacts to targeted demands like 58 calls for working capital and 85% grant endorsement. Fragility noted in both underscores continuity needs.

Benchmarking with Regional Trends

Similar to Kenya and Nigeria’s SME surveys, Ghana’s priorities mirror West African patterns—low-cost credit tops lists amid post-COVID recovery. However, Ghana’s 24H-Economy focus differentiates it, emphasizing time-extended operations over pure export aids.

Legal Implications

Fiscal reductions in the 2026 Ghana Budget may involve amendments to the Income Tax Act or Customs Act, potentially lowering corporate taxes or import duties on machinery. Businesses must comply with Ghana Revenue Authority (GRA) guidelines for grant eligibility, ensuring audited accounts to avoid penalties under the Companies Act, 2019. Credit guarantees could tie into Financial Sector laws, requiring collateral transparency. No speculative risks; consult legal experts for contract reviews on new schemes.

Conclusion

The KPMG 2026 Ghana Budget survey crystallizes a unified business plea: prioritize low-cost financing Ghana, fiscal reductions, and SME empowerment to unlock growth potential. By addressing liquidity and credit access, the government can propel the 24H-Economy and foster job-rich expansion. Stakeholders should act on these insights, advocating and preparing for policy shifts that promise a more inclusive economic landscape.

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