April 06 2015 0Comment

Ghana’s game plan for industrial transformation

Right since Ghana obtained political independence in 1957, Ghana has sought to transform from an agrarian economy to an industrialized one. The initial strategy was for government to finance industry itself and consequently own all sorts of factories. Since then, different approaches have been tried, including nationalization of foreign enterprises and more recently, the use of private investment, both local and foreign, with government focusing on supportive economic policies and investment codes, inclusive of mass divestiture of the industries it established just after independence; as well as economic infrastructure requisite for productive enterprise.

Each successive political administration since Ghana liberalized its economy in the 1980s, has drawn up its own game plan towards accelerated industrialization. The incumbent administration, through the Ministry of Trade and Industry has embarked on its own comprehensive and integrated programme for industrial transformation under the “Industrialization for Jobs and Growth” initiative. The programme is anchored on ten pillars as outlined below.

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