President John Dramani Mahama has called for a fundamental shift in Ghana’s economic approach, urging the nation to move beyond reliance on foreign aid and IMF bailouts and focus on self-sufficiency and domestic resource mobilisation.
Speaking at the 68th Independence Anniversary celebration in Accra, President Mahama stressed that Ghana’s continued dependence on imports, donor aid, and financial assistance from external agencies undermines the true essence of independence.
“Discussions about our independence often highlight our reliance on imports, on donor aid, and IMF bailouts as signs of continued dependence,” he stated.
“This reminder is repeated so often that while undeniably real, it risks becoming a cliché. Yet the entire efficacy of this reminder lies not in just repeating it, but in our willingness to take decisive action.”
President Mahama criticised what he described as empty rhetoric on self-reliance, warning that Ghana cannot claim to be an Africa beyond aid while still returning to donors for financial assistance.
“Proclaiming self-reliance while marching straight back to the donors into the hands of the donor agencies, begging bowl in hand, is really meaningless,” he declared.
To achieve true economic independence, Mahama outlined a series of policies his administration is implementing, including fiscal discipline, economic expansion, and enhanced domestic revenue generation.
A key policy initiative, he revealed, is the 24-hour economy programme, designed to ensure continuous economic activity, job expansion, and increased productivity.
“This administration is working to implement the 24-hour economy programme to ensure that our economy never goes to sleep,” he said.
According to the President, this policy will boost exports, reduce dependence on foreign imports, and enhance Ghana’s trade footprint, ultimately strengthening the economy from within.
President Mahama also highlighted the $10 billion Big Push Initiative, which aims to modernise infrastructure, create jobs, and stimulate local industries.
He stressed the need to prioritise agriculture as a key driver of economic transformation, citing the country’s over $2 billion annual expenditure on food imports as a major setback to self-sufficiency.
“Agriculture remains our biggest opportunity to reduce import dependence,” he said.
The Feed Ghana programme, he explained, will drive mass food production, while the Poultry Farm to Table Initiative will boost domestic poultry production to reduce Ghana’s 95% reliance on imported poultry products.
President Mahama called on young Ghanaians to embrace the opportunities presented by these policies and contribute to nation-building.
“Policies alone, no matter how well crafted and well-intentioned, will not change our reality. Action will change that reality,” he emphasised.
He urged citizens to step up and actively participate in rebuilding the economy, stressing that Ghana’s economic future is in their hands.
“Young Ghanaians must step up to the plate, seize these opportunities, and contribute to building a self-sufficient nation.”
Source: Graphic Online