By Sarah Baafi
President John Dramani Mahama has stressed the urgent need for structural reforms to Ghana’s economy, warning that over-reliance on raw material exports is unsustainable.
Speaking at the National Economic Dialogue (NED) in Accra, he described past economic policies as a “government bleeding” due to inefficiencies and heavy dependence 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 tackle economic challenges and shape a sustainable future.
Industrialisation and Agriculture Key to Growth
President Mahama urged a shift towards value-added industrialisation, calling for an expansion in manufacturing and agro-processing to maximise the country’s natural resources.
“Ghana must earn more from its natural resource endowment if we are to create wealth and prosperity for our people,” he said.
He also highlighted the need for modernising agriculture through mechanisation, irrigation, and technology to enhance food security.
24-Hour Economy and Governance Reforms
A major policy announcement was the introduction of a “24-hour economy” strategy, designed to boost productivity by encouraging businesses to operate round-the-clock. The initiative will be supported by tax incentives and fair labour policies.
President Mahama also stressed the importance of governance reforms to improve transparency and accountability, urging collective responsibility in rebuilding the economy.
“The road ahead will not be easy, but it is a road we must travel together,” he said.
