Former President John Dramani Mahama, the Flagbearer of the National Democratic Congress (NDC), has pledged to rejuvenate critical defunct industries in Ghana if elected in December 2024. During a meeting with the Association of Ghana Industries (AGI) in Accra, Mahama outlined his plans to revitalize strategic sectors such as the Volta Aluminum Company (VALCO) to enhance their viability.
Mahama emphasized the need to shift from an import-dependent economy to one driven by exports. He committed to partnering with industries to develop and implement an industrial policy aimed at transforming the economy. This policy would prioritize supporting large-scale agricultural production to achieve food self-sufficiency and provide raw materials for industries. Additionally, Mahama promised to incentivize indigenous private sector involvement across all sectors, reduce repatriation of profits, and prioritize Ghanaian businesses in government procurement.
Furthermore, Mahama pledged to support each of Ghana's 16 regions in developing industries based on their comparative advantages. He proposed establishing industrial processing zones in various regions, particularly for crops like palm, cashew, cocoa, and shea nut. These initiatives would be integrated within the 24-Hour Economy Policy aimed at addressing challenges hindering production capacity, boosting domestic consumption, and creating employment opportunities.
Mahama urged the current government to take responsibility for economic challenges such as high taxes, irregular power supply, and exchange rate fluctuations. He stressed the importance of addressing these issues to alleviate the burden on Ghanaians and businesses. Dr. Kwesi Ayim Darke, President of AGI, echoed concerns about high energy costs and unstable power supply, calling for the full rollout of nuclear power plants to provide stable energy alternatives.
Looking ahead, Mahama assured that his government would be responsive to the needs of ordinary citizens and prioritize listening, humility, and accountability. With these commitments, Mahama aims to revitalize industries, boost local production, and stimulate economic growth if elected in December 2024.
