Ghana’s debate over import dependence is increasingly being reframed around competitiveness, with experts arguing that consumer choices are being driven more by market realities than by questions of national loyalty.
Mr Joe Jackson, Chief Executive Officer of Dalex Finance, has called on policymakers and the public to stop blaming imports for Ghana’s economic challenges, urging a stronger focus on improving competitiveness and domestic production.
Speaking at an economic dialogue in Accra, Mr Jackson said consumer purchasing decisions are driven by affordability, reliability and value, rather than a lack of patriotism.
“People do not import because they dislike Ghana. They import because many foreign products are cheaper and more competitive,” he said.
Mr Jackson noted that blaming traders and consumers for buying imported goods distracts attention from deeper structural constraints affecting local production.
These, he said, include high operational costs, limited access to capital, inefficient supply chains and inadequate support for domestic industries.
He warned that attempts to restrict imports or promote buy-local campaigns without addressing these underlying issues would yield limited results.
According to him, Ghana’s manufacturing and agribusiness sectors must be strengthened to meet modern standards of efficiency and competitiveness.
He emphasised that consumers naturally gravitate towards products that offer the best balance of price and quality, stressing that local producers must be supported to meet these expectations.
Mr Jackson also pointed out that the role of global markets in improving living standards is often overlooked.
Access to relatively lower-cost imported goods, including electronics, building materials and household items, helps households manage expenses, particularly during periods of inflation.
On the issue of foreign exchange, he explained that while imports place demand on foreign currency, the more pressing concern is the limited retention of export earnings within the domestic economy.
Without addressing this imbalance, he argued, reducing imports alone would not be sufficient to stabilise the cedi.
Mr Jackson called for policies aimed at boosting productivity, lowering the cost of doing business, expanding industrial capacity and encouraging joint ventures that facilitate technology transfer to local firms.
He said such measures would position Ghanaian businesses to compete effectively both in the domestic market and internationally.
Mr Jackson stressed that national conversations on economic reform must be grounded in realism.
“Let us focus on making our businesses efficient, our industries resilient, and our products globally competitive. When that happens, imports will reduce naturally not by force, but by choice,” he said.
