World Bank calls for expansion of trade to boost Ghana's economy

The Regional Director of the World Bank Group, Seynabou Sakho, has said that expanding trade remains one of the most effective ways to create jobs, boost productivity, and support long-term economic transformation.

According to her, Ghana can take advantage of the African Continental Free Trade Area (AfCFTA) by deepening regional value chains, strengthening export competitiveness, and accelerating efforts toward a more diversified export sector.

Speaking during the 2026 Seminar Series in Accra, she noted that although the changing global trade environment presents risks for countries like Ghana, it also creates new opportunities that should not be ignored.

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“For countries like Ghana, this creates risk, but also whenever you have risk, the other pendant is opportunities. And you should never let the risk prevent you from seizing the opportunities,” she said.

She explained that the global trading system is becoming increasingly uncertain and fragmented, making coordinated approaches to supply chains, industrial policy, food security, technology, and market access more challenging.

“That means that while countries are rethinking supply chains, industrial policy, food security, technology and market access, they still don’t have that platform to help them do it as a collective,” she added.

World Bank Group Regional Director Seynabou Sakho further stated that trade expansion remains central to building stronger economies and improving livelihoods in developing countries.

“So this is a priority area for the World Bank Group because trade expansion remains one of the most powerful channels for creating jobs, raising productivity and supporting structural transformation,” she said.

She also stressed that Ghana is well-positioned to benefit from increased continental integration under the AfCFTA framework.

“Ghana has a role also within both the region and the continent and beyond. When you see how Ghana’s exports fare, it is a global country when it comes to trade,” she noted.

Sakho added that Ghana can further benefit from AfCFTA by building regional value chains and strengthening progress toward a more diversified export base.

Despite global trade fragmentation and uncertainty in supply chains, she said Ghana still has significant opportunities to position itself as a stronger player in both regional and global trade.

SO/MA

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