Business News of 2014-01-23

Ghana’s economy too import dependent - Kofi Amoah

An entrepreneur and businessman, Dr. Kofi Amoah has described the country's economy as too "import dependent" to reduce poverty and create wealth for all Ghanaians.

The proof according to him is “we haven’t been able to get rid of poverty, we have not been able to stand on our own feet; we are still import dependent…”

He has counseled the leadership and citizens not to strive to make Ghana a “nation of just consumers; we must also be a nation of producers” to give us economic independence.

He also advised Ghanaians to put aside the negative aspects of politics and begin to re-examine why the country's development agenda has stalled.

He criticized the political practice in Ghana where people can “predict what one person is going to say if the other person says something."

" We will come to a point where we are atrophied in the process of creating good ideas to help the nation,” he said.

Speaking on the country's current economic situation on the Citi Breakfast Show on Thursday, Dr. Amoah stated that Ghana’s policy on imports over the decades has supported the culture of preference for foreign goods over locally manufactured products.

According to him, every nation develops with the resources it has been blessed with therefore, Ghana should not be a country “of fertile land, 5 degrees above the equator, in the sunshine, with lot of rain and be importing vegetables, fruit juice, rice, sugar.”

He further advised that by creating economic activities, there will be development across the country.

Dr. Amoah urged government and relevant stakeholders to be circumspect and understand the critical points of importation which is killing domestic businesses.

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