Ghana’s long term economic stability depends on harnessing local industries rather than import dependence, Ghana Economic Forum Chair Edward Annan said at the forum’s 14th edition in Accra.
Sustainable growth cannot be achieved through rhetoric or policy intention alone, but through practical measures that channel capital, innovation, and productivity into homegrown enterprises, Annan told participants. He emphasized that local industries create jobs and retain value domestically.
Ghana stands at a crucial turning point where global economic pressures, supply chain disruptions, and currency volatility continue to expose vulnerabilities of import dependence, Annan noted. Transforming the economy from one that merely produces raw materials to one that industrializes and processes locally is no longer aspirational, but a necessity.
“The real prosperity of this nation lies not only in what we grow, but in what we make from what we grow,” Annan said.
He stressed that conversations around currency stability must accompany strategic reforms that boost productivity, improve competitiveness, and support local manufacturing. A resilient economy is built on a foundation of innovation, skills development, and deliberate policy support that attracts productive investment rather than speculative flows.
The Ghana Economic Forum (GEF) Chair urged government, the private sector, academia, and civil society to deepen collaboration and align efforts toward actionable reforms that translate into job creation and export expansion. He reminded stakeholders that economic resilience is not built overnight, but through consistent implementation of evidence based policies and a disciplined reform agenda.
Annan emphasized that competitiveness requires strong local supply chains, energy reliability, supportive regulations, and access to finance for productive sectors. As a nation, Ghana must not simply aspire to become competitive but act decisively to achieve it, he said.
He expressed optimism that Ghana can become more inclusive, innovative, and globally competitive if it doubles down on industrialization and technological adoption in agriculture and other strategic sectors. The Forum remains a marketplace of ideas that should move beyond discussions to measurable outcomes that strengthen Ghana’s growth fundamentals.
Annan called on policymakers and the business community to ensure that commitments made at the Forum translate into real economic transformation.
