Financial Economist and Senior Lecturer at the University of Ghana Business School, Professor Lord Mensah says growing Ghana’s local industry will require strong political will and commitment.
He argues that beyond putting in place policies in that direction, the political class must put their feet in the game.
“You see, as a country, you should ask yourself, who are those importing? Who are those rich people importing into the country? If they turn up to be the same policymakers, then obviously you will not end up achieving anything even if you place the policy.”
Prof. Mensah added that he doubts the political elites are ready to put the interest of the country above their profiteering from the current system.
“Under normal circumstances, since we started manufacturing our own rice, we expect that gradually government will have some tariff increase in the importation of rice so that it will scare colossal imports of rice into the country. So I don’t think that can easily happen because of the structure of our economy.”
The government has commissioned some factories across the country worth millions of dollars under the 1D1F programme as part of its commitment towards the drive.
The most recent one was commissioned by President Nana Akufo-Addo and was an eight-ton daily capacity natural rubber processing plant at Dompim in the Wassa East District of the Western Region.
The $2 million factory being managed by Natural Rubber Business Company (NARUBIZ) has 85 permanent staff and is expected to engage 1,260 rubber farmers in its operations.
Beyond this, there has been a series of calls on the public to patronise made in Ghana goods.