President John Mahama says Ghana must urgently transition from exporting raw commodities while importing finished products that can increasingly be produced locally.
He says changing this pattern is critical to creating jobs, strengthening Ghanaian enterprises and expanding the productive base of the economy.
Speaking at the US-Ghana Presidential Roundtable, President Mahama said Ghana’s significant production of cocoa, gold, manganese and agricultural commodities must translate into greater value addition within the country.
“Ghana produces cocoa, gold, manganese, and many other commodities. Our farmers grow cashew nuts, shea fruits, vegetables, and grains, and yet too much still leaves our country in the raw form, while we import finished products that we could increasingly produce at home. This pattern must change if we are to create enough jobs and build stronger Ghanaian enterprises.”
He cited agriculture as a key area where Ghana can expand processing and manufacturing, particularly in cocoa, cashew, shea, horticulture, grains, poultry, livestock and food production.
According to President Mahama: “Processing more of what our farmers produce in Ghana creates a market for farmers, work for processors, businesses for suppliers, transporters, and jobs along the value chain.”
He also urged investors and Ghanaian businesses to look beyond the domestic market and position themselves to serve the wider African market.
President Mahama pointed to the African Continental Free Trade Area, AfCFTA, which brings together a continental market of more than 1.4 billion people, with its Secretariat headquartered in Accra.
He said companies establishing production capacity in Ghana should view the country as a base for accessing markets across West Africa and the wider continent as AfCFTA implementation progresses.
“Do not look at Ghana’s 34 million population only for what you can sell there.”
