The Chief of Staff, Julius Debrah, has emphasised that the state plays a dual role in wealth creation—both as a facilitator and an active participant—through targeted economic policies and development programmes.
He made the remarks in a keynote address delivered on his behalf at the maiden Social Democrats’ Convocation organised by the Legal Green Association in collaboration with the Ghana Institute of Social Democracy. The event was held last Friday at the moot court of the GIMPA Law School.
According to him, social democracy—also described as welfare capitalism or a social market system—promotes a partnership between government and the private sector to drive national development, with a focus on supporting vulnerable groups, the excluded, and the middle class.
He stated that the current administration believes strongly in the state’s role in wealth creation, noting that government interventions are designed not only to regulate but also to actively contribute to economic growth.
A key facilitative strategy highlighted in the speech was the pursuit of macroeconomic stability under the John Mahama-led administration.
He explained that fiscal discipline and appropriate regulatory measures have contributed to relative exchange rate stability, declining inflation, reduced interest rates, easing debt pressures, and a general fall in the cost of goods and services.
These improvements, he said, have helped restore investor confidence and made the country more attractive for business.
He further noted that infrastructure development remains a central pillar of the administration’s economic strategy. Drawing an analogy, he said building a strong economy is similar to creating a proper shelter before rearing poultry, stressing that roads, hospitals, schools, and industrial facilities are essential foundations for business growth.
The Chief of Staff also indicated that the government, guided by social democratic principles, prioritises tangible development over rhetoric, insisting that investments in critical infrastructure are being delivered rather than merely discussed.
He added that several state-owned enterprises that previously struggled financially have reportedly recorded significant improvements under the current administration. According to him, institutions in sectors such as banking, manufacturing, and oil marketing have moved from losses to profitability within a relatively short period.
The convocation brought together policymakers, academics, and governance experts to discuss social democracy and development. Among those present were the Rector of the Ghana Institute of Social Democracy, William Ahadzi, who delivered a lecture on the philosophy of social democracy.
Other dignitaries included Benedica Lasi, Chairperson of the Africa Governance Centre, Mustapha Gbande, Director of Operations at the Presidency, and Eric Adjei, Chief Executive Officer of the National Entrepreneurship and Innovation Programme (NEIP), among others.
