Ghanaian President John Dramani Mahama has announced a national industrialization campaign aimed at boosting the country's economic growth and development.
This initiative is part of the government's economic strategy called the “24-Hour Economy Policy.” Its goal is to create jobs and stimulate the growth of local businesses by building a strong manufacturing and agro-industrial sector to drive national economic development, according to the Ghana News Agency.
During a speech in Sunyani, a city in Ghana, Mahama highlighted the region’s agricultural potential, particularly in the cashew sector, which he considers a key economic driver for rural communities. To support this industry, he announced the creation of a Cashew Development Board, tasked with regulating prices, improving market access, and promoting local processing.
The Ghanaian president concluded by emphasizing that these measures are part of a broader vision to deeply transform the agricultural sector, improve rural living conditions, and build resilient local economies capable of sustainably supporting Ghana’s development.
In the third quarter of 2024, Ghana’s industrial sector recorded an average growth of 8.9%. This increase was driven by the mining and quarrying sub-sector, which grew by 17.1%, followed by construction (10.3%). The oil and gas sector as well as manufacturing also contributed to this growth.
According to the IMF, the industry and agriculture sectors are expected to be the second and third largest sectoral contributors to GDP growth in Ghana between 2022 and 2025.
