The government has been called upon to diversify Ghana’s economy and strengthen export competitiveness as part of a broader strategy to reset the country’s economic trajectory.
These recommendations emerged from breakout sessions at the National Economic Dialogue, where discussions centered on six key thematic areas aimed at addressing Ghana’s economic challenges and fostering sustainable growth.
Presenting insights from the Growth with Depth session, Mavis Owusu-Gyamfi, President of the African Centre for Economic Transformation (ACET), stressed the importance of deliberate and strategic policies to drive long-term economic progress.
She urged the government to extend investment incentives to local businesses, just as it does for foreign direct investors, emphasizing the critical role of homegrown enterprises in national development.
“Offer investment incentives to your large local businesses the same way you do for foreign direct investments,” she advised.
“Remember, your large businesses have an option of where else to invest, so let’s set a priority in supporting them.”
Owusu-Gyamfi’s remarks highlight a growing concern among economic experts that Ghana’s reliance on foreign investment often overshadows the need to empower domestic enterprises, which could serve as catalysts for economic transformation.
The National Economic Dialogue continues to generate discussions on actionable steps for Ghana’s economic recovery, with policymakers expected to integrate these insights into national planning and policy reforms.
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