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Why Ghana Is Losing $2.5 Billion in Trade Every Year

What’s causing losses?
Why Ghana Is Losing $2.5 Billion in Trade Every Year Why Ghana Is Losing $2.5 Billion in Trade Every Year
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Ghana’s Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, recently revealed that the country loses $2.5 billion in export value each year.

The minister explained that the country’s reliance on exporting only raw agricultural produce causes this loss and shows its lack of focus on value addition.

Stakeholders began extensive consultations in July last year, and they have now finalised Ghana’s national agricultural policy framework and made it available for public discussion.

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The government will submit the policy framework to the Cabinet for official executive approval, in line with directives from President John Dramani Mahama.

READ ALSO: Why 100+ Ghanian Trucks With Onion Trucks Are Stranded in Nigeria

The new policies aim to increase the value of Ghana’s agricultural products by establishing stronger links across the country’s agricultural value chain.

The minister emphasised that Ghana has a responsibility to act as a primary advocate for promoting intra-African trade, especially as the host country of the African Continental Free Trade Area Secretariat.

She also noted that the ministry is implementing initiatives to improve the competitiveness of businesses across the continent by providing access to critical resources such as comprehensive data on rules of origin, certification assistance, and tariff information.

She added that the ministry has developed complementary industrial policies targeting key industries like textiles and apparel, pharmaceuticals, and automotive components to provide investors with clearer regulatory guidance, incentives, and standards.

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