Since Independence, Ghana’s export earnings still remains driven by primary commodities after several failed interventions, this is according to economist, Professor Godfred Bokpin.
He argued that the situation leads to weak economic fundamentals as the country misses out on the benefits of value addition and secondary exports.
Prof. Bokpin spoke on the Joy Business Economic Forum held on June 25, 2025 under the theme; “Ghana at Risk: The economic fallout of distance conflicts”.
He maintained that if primary commodities remain unprocessed, Ghana will continue to earn less to develop its infrastructural needs and make it resilient.
“From Independence, more than 70 percent of our export earnings are still driven by primary commodities. We are still talking about the same percentage now and when we say we have done well, it’s more of the same, so how do you talk about resilient”, he quizzed.
He explained that even though Ghana’s economy is currently benefiting from gold, the positive impact would have been more, if the commodity is processed in the country.
“The economy is only resilient because the negative events we are seeing now turns to disproportionately benefit gold and therefore we’re getting some gains from there but what if the crises had come from the perspective of commodities, what would have happened to us?”
Prof. Bokpin called for radical structural transformation to make Ghana’s economy resilient.
“So over the years, decades, we have not really structurally transformed this economy, we haven’t diversified the economy” he charged.
He therefore called on government to initiate bold solutions to change the dynamics of the economy.
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