Ghana must produce more of what it imports to create jobs – Mahama

President John Dramani Mahama has urged Ghanaian businesses to increase the production of goods currently imported into the country. He believes this shift is crucial for job creation and to build a more robust productive economy. Mahama pointed out that Ghana cannot continue to rely on exporting raw commodities while simultaneously importing finished products that could be manufactured locally, especially in areas where the nation possesses the necessary resources, skills, and market potential.

"Ghana must produce more of the goods we currently import where we have the capacity to do so. We must also expand exports and earn more foreign exchange and broaden the productive base of the economy. Most importantly, we need jobs," he emphasized. The urgency of this call is amplified by Ghana's rapidly expanding youth population, according to Mahama.

He argued that economic growth needs to generate employment at a rate that keeps pace with the influx of young people entering the workforce. "Our young population is growing, and the economy must create opportunities at a pace that responds to that growth," he added. Mahama highlighted the 24-hour economy and the Accelerated Export Development Programme as crucial instruments for transforming recent economic stabilization into enhanced production, exports, and employment.

The 24-hour economy framework is designed to enable businesses with viable markets to boost output through additional shifts, rather than mandating continuous operation for all enterprises. "The 24-hour economy is not a directive requiring every business to remain open 24 hours a day. It is a framework that enables enterprises with a market and commercial basis to create additional shifts, raise outputs, and employ more people," Mahama elaborated.

He further explained that expanding production would also create opportunities beyond traditional sectors like factories and farms, including transport, logistics, warehousing, cold-chain services, and various digital businesses that bolster economic activity. President Mahama delivered these remarks during the US-Ghana Presidential Roundtable in New York.

In his address, he outlined his administration's strategy to transition Ghana from macroeconomic stability towards higher productivity, stronger exports, and broader employment opportunities.