Ghana’s industrialisation agenda suffers significantly from policy discontinuity, hindering its capacity to fully leverage intra-African trade opportunities. Mark Badu Aboagye, Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, identified this as a critical impediment to the nation's economic progress and its participation in the African Continental Free Trade Area (AfCFTA).
Frequent modifications in national development programmes by successive governments have weakened long-term industrial growth. This instability forces Ghana to depend on exporting raw materials instead of creating higher-value, finished products. This situation complicates Ghana’s ability to compete effectively within the AfCFTA framework, where robust manufacturing is essential for substantial trade.
This challenge contrasts sharply with Ghana's industrial landscape in the 1960s, a period when the nation produced many basic goods. The country has since moved from a stronger manufacturing base to what Mr. Badu Aboagye describes as deindustrialisation. This pattern of decline holds back Ghana’s potential to develop advanced industries, similar to those seen in more industrialised economies within Africa.
Speaking at the Citi Business Festival 2026, Mr. Badu Aboagye detailed these concerns during a session focused on “Unlocking Africa’s Single Market: How Ghanaian Businesses Can Win under AfCFTA.” He stated that trade among African nations remains low, at only 15%. He pointed out that countries like South Africa contribute significantly to regional trade due to their advanced industrial base. This underscores the need for Ghana to industrialise and add value to its products to increase its trade volume within the continent.
The CEO explained that Ghana's inconsistent industrial trajectory stems from shifting political priorities. New government administrations frequently abandon existing industrial frameworks initiated by previous leaderships. This constant restart prevents any industrial policy from gaining the necessary momentum and long-term investment to succeed. Such disruptions affect initiatives like the One District One Factory (1D1F) programme and the proposed 24-hour economy agenda.
The lack of continuity in industrial policy, rather than merely the cost of production, represents the biggest obstacle to Ghana's industrialisation efforts. Unless this issue is addressed, Ghana will struggle to achieve its industrial goals. This issue impacts job creation, foreign exchange earnings, and the country's overall economic resilience. Decision-makers must focus on establishing stable, long-term industrial policies that transcend political cycles to ensure sustainable economic development.