Ghana’s importers and exporters are preparing for a major transition that could mark a turning point in the country’s economic trajectory.
The Importers and Exporters say they are planning a shift from mere exports and imports into manufacturing, processing, and exports of made-in-Ghana goods under the newly launched 24-Hour Economy policy,
Speaking in an interview with The High Street Journal, Samson Asaki Awingobit, Executive Secretary of the Importers and Exporters Association of Ghana, revealed that the policy presents a unique opportunity for importers to evolve into value creators and job generators within Ghana.
“So an importer will then transform from importer to a manufacturer, from importer to a processor, from importer to an exporter,” he said. “What Ghana has the strength to produce, we will produce and export that. What Ghana cannot produce, we will import,” Samson Asaki told The High Street Journal.
For decades, Ghana’s economy has been heavily import-dependent, with a significant chunk of GDP spent on bringing in goods that could otherwise be produced locally. That model, Awingobit argues, is unsustainable since it fuels job creation in foreign economies rather than at home.
He admitted that “When we import, we create jobs for somebody from elsewhere. And exporting our product in its raw state is not the best, and the President even said it this morning. So I can tell you quite clearly, we are prepared, and this is an opportunity that we want to take.”
The 24-Hour Economy, with the Volta Economic Corridor as an anchor, Samson Asaki believes, will reposition Ghana as a manufacturing and export hub, where the private sector leads the charge in value addition.
One of the policy’s most important tenets, echoed by President Mahama at the launch, is ending the over-reliance on raw commodity exports. Ghana has for years exported cocoa, gold, timber, and other raw materials without significant value addition, missing out on the higher earnings that come with processing and refining.
Awingobit says a stronger manufacturing base also means more exports, more foreign exchange earnings, and a more stable cedi. “When we export more, we stabilise our economy and strengthen our currency,” he said. “This is how we can raise our GDP and reduce our dependence on imports.”
For him, it’s a bold vision and one that the importers and exporters community is ready to embrace, and turn around the economic trajectory of the country.
