The government used the opening of the 2026 Kwahu Business Forum to deliver its most direct message yet on industrial transformation, with senior officials declaring that Ghana must move decisively from an import-dependent economy to one built on manufacturing, value addition, and export competitiveness.
The third edition of the forum opened on Friday, April 3, at the Kwahu Convention Centre on Mpraeso Hill in the Eastern Region, drawing over 1,000 entrepreneurs, investors, and policymakers under the theme “The Future of Business: The Role of the Financial Sector.”
Chief of Staff Julius Debrah, delivering the keynote address, framed the gathering as a turning point rather than another policy dialogue. He criticised the enduring limitations of what he called the “Guggisberg economy” and challenged policymakers, entrepreneurs, and investors to move Ghana beyond being a nation of immense potential to one that builds industries with widespread benefits across the economy.
Debrah said the government was firmly committed to transitioning Ghana from a production-based economy to one driven by manufacturing and value addition, stressing that achieving this ambition would require a decisive shift in economic thinking backed by deliberate policies to create an enabling environment for businesses to thrive.
24-Hour Economy as the Vehicle
Presidential Advisor on the 24-Hour Economy and Accelerated Export Development, Augustus Goosie Tanoh, gave substance to the manufacturing push by laying out the structural problem Ghana must overcome. He noted that over 80 percent of Ghana’s exports still consist of three primary commodities, a pattern comparable to the early 20th century when the country’s main exports were gold, timber, and raw cocoa beans, adding that this failure to transform into a production hub has deprived Ghana of critical foreign exchange earnings and employment opportunities.
Tanoh identified a wide range of products that could be produced competitively in Ghana, including garments, pharmaceuticals, processed foods, building materials, and household items, all of which continue to be imported. He said the 24-Hour Economy and Accelerated Export Development programme had been designed to reverse that trend by building production infrastructure in partnership with the private sector to enable Ghanaian businesses to manufacture, process, and export at scale.
A separate figure from his address underscored the urgency: Ghana spent GH¢39 billion on food imports in 2024 alone, a figure Tanoh cited as evidence of the structural gap the initiative aims to close.
Business Community Called to Act
Debrah called on businesses to invest boldly, innovate consistently, formalise where necessary, and scale beyond comfort, while urging established business leaders to mentor younger entrepreneurs, describing mentorship as an economic strategy rather than an act of charity.
Panel discussions at the forum highlighted persistent challenges facing businesses, including high interest rates, workforce constraints, and the structural disadvantage of competing with foreign firms that access cheaper financing in their home markets.
President Mahama is scheduled to host a presidential dinner for business leaders as the forum continues through April 5.
