Mahama Fortifies Support for Ghanaian‑Owned Corporations

Life Pulse Daily – 27 January 2026

Introduction

On 27 January 2026, former President John Mahama publicly reaffirmed his commitment to strengthening Ghanaian‑owned enterprises during an interdenominational thanksgiving service in Accra. The ceremony marked the 23‑year milestone of the First Sky Group, a diversified conglomerate that has become a flagship example of indigenous corporate success in Ghana. Mahama’s remarks highlighted the strategic importance of bolstering locally‑controlled firms to lift the nation’s Gross National Product (GNP), diversify the economy, and create sustainable employment.

This article breaks down Mahama’s statements, places them within the broader context of Ghana’s economic policies, and offers concrete guidance for Ghanaian‑owned corporations seeking to align with government priorities. It also answers the most common questions readers have about the “fortify” agenda, the Mahama CARE health initiative, and the legal framework governing procurement for indigenous firms.

Key Points

Background

Ghana’s Economic Landscape: GNP vs. GDP

Gross Domestic Product (GDP) measures the value of goods and services produced within a country’s borders, while Gross National Product (GNP) adds income generated by citizens abroad (e.g., remittances, diaspora investments). In Ghana, GNP typically lags behind GDP because a sizable portion of national output is generated by foreign‑owned firms operating in the country.

According to the Ghana Statistical Service, Ghana’s GDP grew by 3.8 % in 2025, while GNP rose 2.9 %—the gap reflecting the influence of foreign capital. Mahama’s focus on GNP signals a deliberate shift toward policies that capture more value for Ghanaian households and businesses.

John Mahama: From Presidency to Advocacy

John Mahama served as Ghana’s President from 2012 to 2017. After leaving office, he has remained active in public discourse, particularly on economic development and social welfare. His recent appearance at the thanksgiving service demonstrates his continued influence among religious, business, and civil‑society circles.

First Sky Group: A 23‑Year Journey

Founded in 1999, the First Sky Group began as a construction contractor and has since expanded into:

• Construction & Development – major infrastructure projects across Ghana.
• Insurance & Finance – First Sky Insurance, offering a range of policies for individuals and SMEs.
• Hospitality – hotels, resorts and catering services.
• Commodities & Energy – mining, bitumen processing, and renewable‑energy ventures.
• Rural Banking – First Sky Rural Bank, serving underserved communities.

The conglomerate employs more than 6,000 people nationwide and reported cumulative revenues exceeding GH¢2 billion in the 2024 fiscal year.

Analysis

Why “Fortify” Matters for Indigenous Enterprises

“Fortify” in Mahama’s language refers to strengthening, protecting, and expanding the capacity of Ghanaian‑owned firms. By reinforcing these enterprises, the government aims to:

1. Increase the proportion of national output that stays within Ghana’s borders.
2. Boost employment and skill development for Ghanaians.
3. Enhance the country’s resilience to external economic shocks.
4. Create a more inclusive growth model that benefits a broader segment of society.

Historical evidence supports this view. During Mahama’s presidential term (2012‑2017), the Ministry of Finance introduced the “Local Content Policy” for public‑sector contracts, which required a minimum percentage of services and supplies to be sourced from qualified Ghanaian firms. The policy contributed to the rise of several indigenous companies that later secured contracts in neighboring West African markets.

First Sky Group as a Model Beneficiary

Mahama singled out First Sky Group for three reasons:

• Reliable delivery – The group has consistently met or exceeded contractual quality standards on major government projects.
• Sector diversification – Its presence in hospitality, energy, and insurance demonstrates risk‑spreading across the economy.
• Social impact – Philanthropic initiatives such as the GH¢51 million dialysis fund align with national health priorities.

These attributes make First Sky an exemplar for other Ghanaian firms seeking to attract public‑sector support.

Mahama CARE Programme: Health Investment as Economic Catalyst

The Mahama CARE programme, launched in 2024, targets non‑communicable diseases (NCDs) that impose a heavy fiscal burden on Ghana’s health system. By allocating GH¢2.1 billion to the initiative, the government intends to:

1. Improve access to dialysis and kidney‑transplant services in major teaching hospitals.
2. Reduce out‑of‑pocket medical expenses for low‑income families.
3. Lower long‑term health‑care costs, thereby freeing resources for other economic development activities.

First Sky’s contribution of GH¢51 million to Korle Bu Teaching Hospital’s dialysis centre directly supports this objective, illustrating how private philanthropy can complement public funding.

The Role of Religious Thanks‑Giving Events

Interdenominational thanksgiving services are common in Ghana and often serve as platforms for political leaders to articulate policy visions. By framing economic recovery as “divine grace,” Mahama taps into a cultural narrative that resonates with a broad audience, reinforcing the legitimacy of his economic agenda.

Practical Advice

How Ghanaian‑Owned Corporations Can Align with Government Priorities

1. Audit Current Procurement Exposure – Review existing contracts and identify gaps where foreign firms dominate.
2. Adopt the Local Content Certification – Obtain certification from the Ghana Investment Promotion Centre (GIPC) to qualify for government tenders.
3. Diversify Revenue Streams – Expand into sectors with high growth potential (e.g., renewable energy, fintech, agribusiness).
4. Invest in Human Capital – Provide training programmes that meet Ghana’s National Skills Development Strategy (NSDS) targets.
5. Leverage Public‑Private Partnerships (PPPs) – Partner with ministries such as Energy, Health, and Transport to co‑finance projects.

Accessing Mahama CARE Funding

While the Mahama CARE programme is primarily a government health initiative, private firms can benefit indirectly:

• Philanthropic Matching Grants – Companies can match government donations to health projects, improving corporate social responsibility (CSR) scores.
• Health‑Insurance Partnerships – Align corporate health‑insurance packages with Mahama CARE’s treatment pathways to reduce employee out‑of‑pocket costs.
• Supply‑Chain Opportunities – The programme’s procurement of dialysis equipment creates openings for Ghanaian manufacturers of medical devices.

Strategic Steps for Expansion into Cross‑Border Markets

Mahama’s past procurement policies gave rise to Ghanaian firms that now operate in Côte d’Ivoire, Nigeria, and Senegal. To replicate this success:

1. Benchmark International Standards – Ensure products and services meet ISO 9001, ISO 14001, and sector‑specific certifications.
2. Build Regional Partnerships – Join the West African Business Forum (WABF) to network with regional investors.
3. Seek Export Incentives – Apply for the Export Promotion Incentives offered by GIPC.
4. Utilise Ghana’s Trade Agreements – Leverage the Economic Community of West African States (ECOWAS) trade framework for tariff‑free movement of goods.

Financing Options for Indigenous Projects

First Sky’s upcoming 50‑MW solar plant illustrates how Ghanaian‑owned firms can secure capital:

• Government‑Backed Loans – The Ghana Infrastructure Investment Fund (GIIF) provides low‑interest loans for renewable‑energy projects.
• Private Equity & Venture Capital – Local funds such as Venture Capital Ghana have shown interest in utility‑scale solar.
• Green Bonds – The Ministry of Finance has announced a GH¢1 billion green‑bond issuance for clean‑energy initiatives in 2026.

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