A distinguished procurement and supply chain expert, Prof. Douglas Boateng, has made a compelling case that Ghana can breathe life into its struggling state-owned enterprises (SOEs) by harnessing the strategic power of procurement.
The supply chain and procurement made this case at the 2025 National Procurement and Supply Conference under the theme “Reimagining Procurement and Supply for Sustainable Development and Economic Resilience.”
Delivering a speech at the conference, Prof. Douglas Boateng agreed that “Procurement is the bloodstream of industrialisation,” however, because it is not professionalised, the country fails to use its full power.”
Lessons from Dr. Kwame Nkrumah and GIHOC
Prof. Boateng reminded delegates at the conference of Dr. Kwame Nkrumah’s bold vision when he established the Ghana Industrial Holding Corporation (GIHOC). It was not merely about building factories, he said, but about embedding procurement into the supply chain to create self-sufficiency.
He emphasized that these factories were to wean the country off the exportation of raw materials, which deepens poverty by using strategic procurement to drive industrialization.
“Selling raw materials at low prices and importing finished goods deepens dependence and poverty,” he noted. Strategic sourcing, in his view, was Nkrumah’s way of building local capacity and breaking the cycle of dependence.
Cocoa, Chocolate, and Procurement’s Untapped Potential
To illustrate the potential, Prof. Boateng pointed to the Cocoa Processing Company (CPC), which has long struggled despite Ghana being the world’s second-largest cocoa producer.
The procurement expert implored delegates to imagine a situation where every school child in Ghana was required to drink a cup of hot chocolate every morning. That one procurement decision, supported by the government, he believed, would have transformed the entire cocoa value chain and sustained CPC.
“Just imagine what will happen to the cocoa supply chain if every morning, procurement professionals, with the support of the government, say every school child should drink hot chocolate. The impact of the procurement decisions on the entire cocoa value chain. CPC will not struggle,” he noted.
Instead of exporting beans and importing chocolate at higher prices, such a policy could anchor demand locally, create jobs, and build industries around cocoa.
Reviving Textiles through Procurement
He also cited the decline of Ghana’s textile industry as another example of lost opportunity. “Just imagine if every junior and senior high school uniform was procured from our local textile manufacturers,” Prof. Boateng said.
That single procurement policy, he explained, would create steady demand, boost local production, protect jobs, and ensure that SOEs like Akosombo Textiles thrive once more.
Procurement as an Engine for SOE Revival
This case made by the procurement expert suggests that SOEs do not need endless bailouts; they need intentional markets. Procurement, when professionalised and aligned with national industrial goals, is the tool to create those markets.
From food to clothing, Ghana’s public institutions spend billions annually on goods and services.
Redirecting even a fraction of that spending toward local SOEs could reverse decades of decline, empower industries, and reduce poverty.
However, Prof. Boateng warned that achieving this vision requires more than good ideas. It demands enforceable procurement standards, professionalisation of the field, and bold political will.
