The President of the Association of Ghana Industries (AGI), Kofi Nsiah-Poku, has called on government to accelerate export diversification as part of efforts to sustain Ghana’s economic stability and industrial growth.
Speaking at a media engagement following the AGI National Council Retreat held in Accra from February 12–13, Mr Nsiah-Poku said Ghana’s economic stability remains heavily dependent on three traditional exports gold, crude oil and cocoa which account for nearly 80 percent of export earnings .
He noted that fluctuations in global prices of these commodities expose the country to external shocks and revenue volatility.
“We think Ghana must accelerate non-traditional exports such as cashew, coconut and natural rubber to cushion our balance of payments,” he said.
The AGI communiqué, issued at the end of the two-day retreat, urged government to strengthen local production and long-term growth to sustain recent macroeconomic gains .
Mr Nsiah-Poku emphasised the need for value addition to raw materials, particularly cocoa and cashew. He said exporting raw cocoa beans deprives the country of significant revenue and job opportunities.
“If we process cocoa locally into powder, butter and finished products like chocolate and cosmetics, we can earn multiples of what we currently receive from exporting raw beans,” he stated.
He added that processing cashew alone could increase export value by up to 400 percent compared to exporting it raw.
The AGI President also advocated restrictions on the importation of finished retail products such as fruit juices, arguing that Ghana has the capacity to process mangoes, pineapples and oranges locally.
“Why should we import fruit juices when farmers sometimes struggle to sell their oranges? We must process what we grow and consume what we produce,” he stressed.
On rice imports, he called for policy adjustments to promote local consumption and production, noting that reducing imports would ease pressure on the cedi and conserve foreign exchange.
The AGI retreat, held under the theme “Sustaining Economic Stability to Drive Industrial Growth,” brought together regional, sectoral and national executives to deliberate on policy reforms and industrial competitiveness.
Mr Nsiah-Poku reaffirmed AGI’s commitment to working closely with government to promote industrialisation, expand exports and create jobs for Ghana’s youth.
He urged policymakers to combine targeted reforms with aggressive implementation to ensure Ghana builds a resilient and diversified export base.
