Business News of Wednesday, 23 April 2025

Source: www.ghanaweb.com

Ghana's economy can be transformed through agriculture – Professor Bokpin

Professor Godfred Bokpin, Economist Professor Godfred Bokpin, Economist

An economist, Professor Godfred Bokpin, has emphasised the urgent need for Ghana to scale up its agricultural productivity in the face of escalating global trade wars.

According to him, Ghana does not produce enough to meet its domestic needs, a challenge that threatens the country’s long-term sustenance.

He noted that current developments on the global stage should serve as a wake-up call for Ghana to make significant investments in agricultural production.

“If you look at Ghana, we’re not even producing enough to feed ourselves, let alone think about exporting. We rely heavily on imports from countries like Burkina Faso, Mali, and Niger, so there’s definitely room to grow,” Professor Bokpin said.

He added, “We have the potential to transform our economy through agriculture, agribusiness, and agro-processing. Once we achieve self-sufficiency, we can then focus on exporting to neighboring countries. Africa’s food deficit runs into billions of dollars, there’s a huge market waiting.”

Meanwhile, the International Monetary Fund (IMF) has revised its global economic growth forecast for 2025 down to 2.8%, a decrease from the 3.3% projection made in January.

This revision is largely attributed to intensifying trade disputes, particularly between the United States and its key trading partners, most notably China.

SSD/MA

Meanwhile, watch GhanaWeb's tour of Odweanoma Paragliding Field below: