In his compelling address on day one of the national economic dialogue, Founder and President of the African Centre for Economic Transformation (ACET) Dr. Kingsley Y. Amoako challenged Ghana’s policymakers to confront the nation’s persistent middle-income trap. Despite modest gains in gross national income per capita, from less than $400 over four decades to a range of $200 to $2,400 since 2000, Dr. Amoako questioned why progress has stalled.
“We have seen incremental improvements, yet our growth seems to have plateaued,” Dr. Amoako remarked. He urged the government, under President Mahama’s leadership, to raise its ambitions and pivot towards investing in a diversified, competitive economy that can propel Ghana onto the global economic stage within the next 20 years.
Dr. Amoako stressed that without structural reforms and strategic investments in various sectors, the nation risks remaining mired in middle-income status. “It is imperative for us to transform our economic landscape, broadening our base and fostering industries that can compete internationally,” he added.
The Founder & President Emeritus of the African Center for Economic Transformation call for action comes amid growing concerns over Ghana’s economic future. He argued that sustainable growth requires not only policy continuity but also a commitment to innovation and diversification. Dr. Amoako’s remarks ignite discussions for a comprehensive strategy that moves beyond traditional revenue streams and taps into emerging global markets.
