Mahama Calls for Bold Economic Reforms to End Ghana’s Over Reliance on Raw Exports
President John Dramani Mahama has emphasized the urgent need for structural reforms in Ghana’s economy, warning that the country’s dependence on raw material exports is unsustainable.
Speaking at the National Economic Dialogue (NED) in Accra, H.E John Mahama criticized past economic policies, describing them as “government bleeding” due to inefficiencies and over-reliance on gold, cocoa, and crude oil exports.
The two-day forum, themed “Resetting Ghana: Building the Economy We Want Together,” brings together key stakeholders to address economic challenges and chart a sustainable path forward.
Mr. President called for a shift towards value-added industrialization, advocating for an expansion in manufacturing and agro-processing to maximize the country’s natural resource wealth.
“Ghana must earn more from its natural resource endowment if we are to create wealth and prosperity for our people,” he stressed.
He also underscored the need for modernizing agriculture through mechanization, irrigation, and technology to enhance food security.
A key policy proposal unveiled at the event was the introduction of a “24-hour economy” strategy, aimed at boosting productivity by encouraging businesses to operate around the clock. This initiative will be supported by tax incentives and fair labor policies.
In addition to economic reforms, Mahama highlighted the importance of governance improvements to enhance transparency and accountability.
He urged collective responsibility in rebuilding the economy, stating, “The road ahead will not be easy, but it is a road we must travel together.
