Akufo-Addo pledges to transform Ghana’s economy, break away from colonial structures

President Nana Addo Dankwa Akufo-Addo has expressed concern about the persistent colonial structures in Ghana’s economy, noting that it continues to have adverse effects on the country.

However, he assured the nation that decisive measures would be taken to break away from the current raw-material-producing and exporting economy and transition towards a modern, value-adding, and industrialized one.

According to President Akufo-Addo, before the disruptions caused by the Covid-19 pandemic and the Russia-Ukraine war, all economic indicators were pointing towards the realization of this goal.

He emphasized that despite the challenges faced by the economy, significant progress has been made in various areas.

“As President of the Republic, I have been preoccupied with making my leadership of Ghana a period above all that our nation lays the foundation from exporting raw materials and retailing of imported goods to a modern, value-adding industrialised one.”

The President made these remarks during a banquet held in honour of senior citizens to mark this year’s Founders’ Day. The event took place at the Banquet Hall of the Jubilee House, with Vice President Dr Mahamudu Bawumia in attendance.

Founders’ Day, observed on August 4, is a significant occasion in Ghana as it commemorates the contributions of successive generations in liberating the nation from colonial rule and establishing the nation-state.