Ghana must shift from exporting raw materials to industrialization-President Mahama

President John Dramani Mahama has emphasized the urgent need for structural reforms to Ghana’s economy, warning that over-dependence on raw material exports is unsustainable.

Speaking at the National Economic Dialogue (NED) in Accra, the president labeled the past economic policies as “government bleeding” due to inefficiencies and heavy reliance on gold, cocoa, and crude oil exports.

The National Economic Dialogue is a two-day forum, themed “Resetting Ghana: Building the Economy We Want Together.” The forum brings together key stakeholders to tackle economic challenges and shape a sustainable future.

President Mahama called for a shift towards value-added industrialization, urging for an expansion in manufacturing and agro-processing to bolster the country’s natural resources.

President Mahama said, “Ghana must earn more from its natural resource endowment if we are to create wealth and prosperity for our people.”
Additionally, he stressed the need for modernising agriculture through mechanisation, irrigation, and technology to enhance food security.

President Mahama added, “The road ahead will not be easy, but it is a road we must travel together.”
President Mahama also stressed the significance of governance reforms to improve transparency and accountability, urging collective responsibility in rebuilding the economy.