KEY POINTS
- Mahama champions “Ghana economic independence,” calling for an end to reliance on foreign aid.
- The 24-hour economy program aims to enhance both productivity and export development.
- The economy heavily relies on the agricultural sector to achieve economic independence.
President John Dramani Mahama has urged Ghana to move away from reliance on foreign aid and international financial assistance, calling for a stronger focus on self-sufficiency and domestic resource mobilization.
Speaking at the 68th Independence Anniversary celebration in Accra, Mahama emphasized that true independence cannot be achieved if the country remains dependent on imports and financial bailouts.
“Discussions about our independence often highlight our reliance on imports, donor aid, and IMF bailouts as signs of continued dependence,” he said. “The true value of these discussions is not in repeating them but in taking decisive action.”
Mahama dismissed what he termed as “empty rhetoric” about self-reliance because Ghana cannot claim status as an “Africa beyond aid” while accepting money from donor agencies.
Graphic Online reported that Mahama presented multiple policies that focused on economic growth, productivity development and import reduction.
24-hour economy and infrastructure investment to drive growth
As part of his plan, the 24-hour economy program aims to maintain nonstop economic operations and generate employment opportunities to enhance productivity.
According to Mahama, this program will play a vital role in expanding exports, reducing dependence on imports, and enhancing Ghana’s trade competitiveness.
“This administration is working to implement the 24-hour economy to ensure that our economy never goes to sleep,” Mahama stated.
The President also highlighted the $10 billion Big Push Initiative, an ambitious infrastructure modernization plan aimed at stimulating local industries, creating jobs, and developing critical national infrastructure.
This initiative will supply essential backing to industries that lead economic advancements.
Agriculture as a key to reducing import dependence
Mahama emphasized that agriculture remains one of Ghana’s biggest opportunities for achieving self-reliance. He stressed that Ghana spending of $2 billion annually on imported food limits economic independence as it drains national resources.
To address this, he highlighted Feed Ghana as a large-scale food production program while promoting the Poultry Farm to Table Initiative to decrease the country’s 95 percent dependency on imported poultry products.
“Policies alone, no matter how well crafted, will not change our reality. Action will change that reality,” Mahama said, calling on young Ghanaians to take advantage of these opportunities and actively participate in rebuilding the economy.
He urged the country’s youth to embrace entrepreneurship, agriculture and local industrial development because economic growth depends on their individual actions.
