Dr. Domfeh Advocates for Agricultural Investment in Ghana to Enhance Economy

Dr. George Domfeh urges investment in Ghana’s agriculture to create jobs and reduce food import dependency. He links import reliance to the weakening Cedi and calls for reform in agriculture since historical policies have contributed to current economic issues. A focus on agriculture and manufacturing can enhance self-sufficiency and job creation.

Dr. George Domfeh, a Development Economist, emphasizes the necessity for substantial investment in Ghana’s agricultural sector to facilitate job creation and mitigate dependency on food imports. He asserts that such advancements could bolster the strength of the Ghanaian currency, the Cedi, by increasing local production and enabling exports.

While addressing attendees at a post-budget dialogue on March 14 at the University of Professional Studies, Accra (UPSA), Dr. Domfeh lamented the nation’s excessive reliance on imports, which he argues has weakened the Cedi. He stated, “Because we are not serious with agriculture… we depend so much on what others have produced.”

Dr. Domfeh drew parallels with global inflation trends, referencing significant inflation rates in the US, Germany, and the UK, which resulted in political repercussions for ruling governments in those countries. He described how reliance on foreign goods leads to increased costs in Ghana, placing further strain on the economy and the Cedi.

He argued that many of the current challenges faced by Ghana stem from historical shortcomings in policy since independence in 1957. Rather than attributing these issues solely to recent administrations, he calls for a shift in focus to foundational reforms in agriculture and manufacturing. He concluded, “Let us get the agriculture sector improved and when you do that, you are creating jobs for the people.”

Dr. Domfeh’s comments stress the need for a transformative approach in agriculture and manufacturing to cultivate economic self-sufficiency and enhance job opportunities.

In conclusion, Dr. George Domfeh advocates for significant investment in Ghana’s agricultural sector as a means of job creation and economic stabilization. He highlights the detrimental effects of import dependence on the Cedi and calls for a long-term vision to address historical policy failures. By improving local production, Ghana can become more self-sufficient and better positioned in the global economy.

Original Source: 3news.com