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By Juliet ETEFE ([email protected]) The Chair of the Ghana Economic Forum (GEF), Edward Annan, has underscored that country’s long-term economic stability and development will depend on how well the country harnesses and strengthens its local industries. Speaking at the opening of the 14th edition of the Forum in Accra, he said sustainable growth cannot be achieved through rhetoric or policy intention alone, but through practical measures that channel capital, innovation and productivity into homegrown enterprises that create jobs and retain value locally. Mr. Annan noted that Ghana stands at a crucial turning point where global economic pressures, supply chain disruptions, and currency volatility continue to expose the vulnerabilities of import dependence. He stressed that transforming the economy from one that merely produces raw materials to one that industrialises and processes locally is “no longer aspirational, but a necessity.” According to him, the conversations around currency stability must go hand in hand with strategic reforms that boost productivity, improve competitiveness and support local manufacturing. “The real prosperity of this nation lies not only in what we grow, but in what we make from what we grow,” he said, calling for renewed commitment to value addition particularly in agriculture and agribusiness. He added that a resilient economy is one built on a foundation of innovation, skills development and deliberate policy support that attracts productive investment rather than speculative flows. To this end, he 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. The GEF Chair also reminded stakeholders that economic resilience is not built overnight, but through consistent implementation of evidence-based policies and a disciplined reform agenda. He said the Forum remains a marketplace of ideas that should move beyond discussions to measurable outcomes that strengthen Ghana’s growth fundamentals. “As a nation, we must not simply aspire to become competitive — we must act decisively to become so,” he said, emphasising that competitiveness requires strong local supply chains, energy reliability, supportive regulations and access to finance for productive sectors. Mr. Annan expressed optimism that Ghana can become more inclusive, innovative and globally competitive if it doubles down on industrialisation and technological adoption in agriculture and other strategic sectors. He called on policymakers and the business community to ensure that commitments made at the Forum translate into real economic transformation. Post Views: 1
