AGI urges government to prioritize local raw materials to boost economy

The Association of Ghana Industries (AGI) is once again calling on the government to take decisive action in promoting local raw material production. With Ghana’s heavy dependence on imports continuously straining the economy, industry leaders believe that shifting towards homegrown resources could provide much-needed relief.

According to AGI, reducing reliance on imported raw materials will ease pressure on the cedi, which continues to struggle due to the high demand for foreign exchange. The association warns that if this issue is not tackled, Ghanaian industries will remain vulnerable to economic shocks, inflation, and rising production costs.

Tsonam Akpeloo, the Greater Accra Regional Chairman of AGI, has emphasized the urgency of the situation. He is calling on the newly established Ministry of Trade, Agribusiness, and Industry to implement policies that support local industries and strengthen supply chains.

For years, AGI has raised concerns about how Ghana’s over-reliance on imported materials has weakened the industrial sector, widened trade deficits, and increased national debt. The COVID-19 pandemic exposed just how fragile global supply chains can be, leaving many businesses struggling to access essential raw materials. Without a strong local alternative, the country remains at risk of facing similar crises in the future.

In response to these challenges, the government, under President John Dramani Mahama, has introduced a restructured ministerial framework designed to drive economic transformation. The newly established Ministry of Trade, Agribusiness, and Industry will focus on reducing import dependency, enhancing industrial productivity, and improving Ghana’s trade balance.

By: Linda Akite