Ghana now imports nearly 80% of its essential goods, spending about $1.5 billion annually on textiles alone, according to Dr. Ishmael Nii Amanor Dodoo, Director of Partnership and Markets at the 24-Hour Economy Secretariat.
Speaking at the launch of the 2025 Volta Trade and Investment Fair in Juapong, Dr. Dodoo warned that the country’s rising reliance on imports was eroding economic independence and stifling local industries once considered national pride.
He recalled Ghana’s historic industrial achievements, including the globally recognized Volta Corned Beef brand, the first transistor radios in West Africa, and locally manufactured Sanyo colour televisions, as evidence that the country had previously matched global standards.
“When people ask why we need a 24-Hour Economy, my answer is simple, we have done it before, and we have the talent and ability to do it again,” Dr. Dodoo said.
He outlined the Volta Economic Corridor as a key plank of the 24-Hour Economy initiative. The project, he explained, would integrate multi-modal transport across the Volta Lake to move more than 8.2 million tons of goods annually, while also supporting irrigation schemes for large-scale cereal and vegetable production. This, he said, would allow Ghana to tap into West Africa’s $1.3 trillion market.
Organised Labour pledged support for the revival agenda. Its General Secretary, Mrs. Edith Abla Amenuvor Afewu, stressed that restoring industries such as Volta Star Textiles would return dignity to households. She also called on investors to respect labour rights as the sector rebuilds.
Adding to the call, Mr. Jerome Kwaku Dunyo, Managing Director of Volta Star Textiles Limited, lamented the collapse of Ghana’s textile industry, which once employed more than 25,000 workers across 16 companies, contributing about 12% to GDP.
“Today, only three remain, and Volta Star has gone silent,” Mr. Dunyo said, noting that a $100 million business plan had been prepared to revive the Juapong-based factory, with scalable investment options starting at $25 million.
He thanked government, stakeholders, and the Volta Regional Minister for backing the revival drive, while highlighting former President John Dramani Mahama’s personal commitment to restoring the textile industry.
The Volta Trade and Investment Fair, themed “Volta Rising: Building Global Partnerships for a Thriving 24-Hour Economy,” was positioned not only as a trade platform but also as a rallying call for Ghana to reclaim its industrial base and position the Volta Region as a hub of productivity and growth.
