According to Hon. Kojo Oppong Nkrumah, Minister of Information, the government will soon ban the importation of foods and goods that can be produced domestically.
The Minister claims that the action is a part of government attempts to lower cedi pressure, strengthen the local economy, and increase income.
Addressing the nation on the economy on Sunday October 30, 2022, President Akufo-Addo said, “we will review the standards required for imports into the country, prioritise the imports, as well as review the management of our foreign exchange reserves, in relation to imports of products such as rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottled water and ceramic tiles, and others which, with intensified government support and that of the banking sector, can be manufactured and produced in sufficient quantities in Ghana. Government will, in May 2023, that is six (6) months from now, review the situation. We must, as a matter of urgent national security, reduce our dependence on imported goods, and enhance our self-reliance, as demanded by our overarching goal of creating a Ghana Beyond Aid.
“Much as we believe in free trade, we must work to ensure that the majority of goods in our shops and marketplaces are those we produce and grow here in Ghana. That is why we have to support our farmers and domestic industries, including those created under the 1-District-1-Factory initiative, to help reduce our dependence on imports, and allow us the opportunity to export more and more of our products and guarantee a stable currency that will present a high level of predictability for citizens and the business community. Exports, not imports, must be our mantra! Accra, after all, hosts the headquarters of the Secretariat of the African Continental Free Trade Area.”
Speaking on the Kumasi-based OTEC 102.9 FM’s breakfast show, “Nyansapo” on Monday October 31, 2022 Hon Oppong Nkrumah said government will use the next six months to boost the capacity of local companies to create more jobs and indigenous products at the same time.
He added that excessive importation of certain products particularly foods that can be produced in Ghana will be banned after local producers begin to meet the local demand.
“Government has deployed pragmatic and practical strategies to strengthen the capacities of local producers to help increase the local production of food items.
“We have already acknowledged that the present economic woes of the country were as a result of high rate of importation and demand for foreign goods, especially food items.
“That is why the government has decided to ban the importation of certain goods such as poultry products, rice, fish, and cooking oil among others,” he stated.
He noted that the high taste for foreign goods was seriously affecting local production adding that government is taking urgent steps to control the situation.
