Ghana’s ability to turn its proposed $10 billion New Economy Policy into jobs and industrial growth will depend on improving technical education, strengthening research and reducing reliance on imports, legal practitioner Sam Okudzeto has warned.
Okudzeto made the case for a coordinated national approach to economic transformation during an appearance on TV3’s New Day programme on Thursday, October 22, arguing that investment alone would not resolve the country’s structural economic challenges.
He said sectors targeted for growth, including agriculture, tourism and vehicle manufacturing, would need a skilled workforce capable of supporting production and sustaining industrial operations.
Without adequately trained workers and effective research institutions, he argued, investors could be discouraged from establishing factories in Ghana.
Okudzeto also questioned the focus of successive governments on expanding universities, saying the growth of tertiary education institutions did not automatically provide the practical expertise required for industrialisation.
He urged political leaders to put national economic priorities ahead of partisan considerations and examine the factors behind Ghana’s declining economic position relative to its standing after independence.
The country’s dependence on imported rice was another concern raised by Okudzeto, who argued that Ghana should strengthen domestic food production instead of relying heavily on supplies from countries such as Vietnam and Thailand.
President John Dramani Mahama has proposed investing $10 billion over five years in nine priority sectors under the New Economy Policy, with an estimated $2 billion earmarked annually.
The initiative is intended to move Ghana beyond economic stabilisation towards greater production, employment and wealth creation. Okudzeto’s comments highlight the importance of developing the skills and domestic productive capacity needed to support those ambitions.
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