Ghana now imports close to 80 percent of its essential goods
Ghana now imports close to 80 percent of its essential goods, with an estimated $1.5 billion spent each year on textiles alone, Dr Ishmael Nii Amanor Dodoo, Director of Partnership and Markets at the 24-Hour Economy Secretariat, has revealed.
Dr Dodoo, who was speaking at the launch of the 2025 Volta Trade and Investment Fair in Juapong, said the country’s import dependence was undermining its industrial pride and economic independence.
He recalled Ghana’s lost but recoverable industrial legacy, citing the once-famous “Volta Corned Beef” brand that gained international recognition and attracted foreign companies to learn from local expertise.
He also reminded the gathering of pioneering achievements such as the first transistor radios for West Africa and the manufacture of Sanyo colour Televisions.
“When people ask why we need a 24-Hour Economy, my answer is simple—we have done it before, and we have the talent and ability to do it again,” he said.
Outlining the Volta Economic Corridor as a central pillar of the 24-Hour Economy vision, Dr Dodoo explained that the initiative would integrate multi-modal transport across the Volta Lake to move more than 8.2 million tons of goods annually, while boosting irrigation schemes for large-scale cereal and vegetable production.
“Through this, Ghana can tap into West Africa’s $1.3 trillion market,” he stressed.
Edith Abla Amenuvor Afewu, General Secretary of Organised Labour, said the revival of industries such as Volta Star Textiles would restore dignity to many households.
She urged investors to uphold labour rights, pledging organised labour’s full support for the region’s industrial revival.
Jerome Kwaku Dunyo, Managing Director of Volta Star Textile Limited, said the textile sector once employed more than 25,000 people across 16 companies, contributing about 12 per cent to GDP.
“Today, only three remain, and Volta Star has gone silent,” he noted, adding that a $100 million business plan had been submitted to revive the Juapong-based factory, with scalable investment options starting at $25 million.
He expressed gratitude to government, stakeholders, and the Volta Regional Minister for backing the revival agenda and acknowledged President John Dramani Mahama’s personal commitment to restoring the textile industry.
The Fair, held on the theme “Volta Rising: Building Global Partnerships for a Thriving 24-Hour Economy”, was described as both a trade platform and a rallying call for Ghana to reclaim its industrial base and position the Volta Region as a hub for national productivity and growth.
