Chartered Economist, Dr. Samuel Worlanyo Mensah, has emphasized the need for a shift toward development-driven economic planning to reduce Ghana’s reliance on foreign goods.
He pointed out that the COVID-19 pandemic revealed both vulnerabilities and opportunities, underscoring the importance of achieving self-sufficiency in production.
Dr. Worlanyo Mensah cautioned that ongoing dependence on imports weakens the local currency and stifles economic growth.
He called on policymakers to adopt development-focused economic strategies to enhance domestic production and strengthen Ghana’s economy.
“If you look at economic planning, I know that 3rd World countries, which prefer solutions to our developmental challenges, there’s a need for us to start thinking development.”
Dr. Worlanyo Mensah reiterated the need for greater industrialization, agribusiness growth, and local technology development to strengthen Ghana’s economy.
He also called for increased support for local entrepreneurs and more focused efforts to fully capitalize on the opportunities provided by the AfCFTA.
