By: Celestine Avi and Seth Eyiah
President John Dramani Mahama has set an ambitious target to raise Ghana’s manufacturing contribution to Gross Domestic Product from about 10 percent to at least 15 percent by 2030, alongside the creation of 500,000 quality industrial jobs.
Addressing business leaders at the Presidential Dialogue with the Private Sector in Accra, he said macroeconomic stabilization alone will not deliver long-term prosperity.
While acknowledging recent gains in currency stability and renewed investor confidence, the President stressed that Ghana must now shift from short-term recovery measures to deep structural transformation.
He explained that increasing manufacturing output is critical to reducing import dependency, strengthening the cedi, expanding exports and building a resilient economy capable of withstanding global shocks. According to him, Ghana’s development cannot continue to rely heavily on primary commodity exports and consumption-led growth.
President Mahama outlined key pillars to drive the industrial expansion agenda, including comprehensive energy sector reforms to lower power costs, competitive and accessible industrial financing for manufacturers, and improved infrastructure to support production and logistics. He also emphasized the need for regulatory clarity and policy consistency to boost investor confidence.
The President further highlighted the importance of enforcing fair trade practices, noting that smuggling, under-declaration and counterfeit goods undermine local industries and discourage legitimate investment. Protecting domestic manufacturers, he said, is essential if Ghana is to meet its industrial growth targets.
He indicated that the projected 500,000 industrial jobs would focus on skilled and semi-skilled employment opportunities for the youth, supported by investments in technical and vocational training to align workforce capabilities with industry demands.
President Mahama concluded that Ghana must move decisively from incremental adjustments to bold structural reforms if it is to compete regionally and globally.
“Our goal is not just growth,” he stated, “but transformation, building an industrial economy that produces, exports and creates sustainable jobs for our people.”
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