Accra, April 7, – The Chief Executive Officer of Dalex Finance, Mr Joe Jackson, has cautioned against framing imports as the root cause of Ghana’s economic difficulties, saying they instead reflect deeper structural weaknesses in the economy.
He said policymakers must focus on improving competitiveness and strengthening domestic production rather than blaming consumers and traders for importing goods.
Speaking at a Chartered Institute of Marketing Ghana (CIMG) economic dialogue in Accra, Mr Jackson noted that purchasing decisions are driven by affordability, reliability and value, rather than a lack of patriotism.
“People do not import because they dislike Ghana. They import because many foreign products are cheaper and more competitive,” he said.
He explained that calls to restrict imports or shame consumers into buying local products would have limited impact unless local industries are made more efficient and competitive.
According to him, Ghanaian manufacturers face structural constraints such as high production costs, limited access to capital, inefficient logistics and weak industrial support systems.
Mr Jackson stressed that consumers naturally gravitate toward products that offer the best value, and urged local producers to meet global standards in price and quality.
He further argued that imports should be understood within the broader context of global trade, noting that access to cheaper foreign goods helps households manage living costs, particularly during inflationary periods.
He also highlighted the role of currency dynamics, saying Ghana’s import pressures are closely tied to challenges in retaining foreign exchange earnings from exports.
“Without addressing this structural issue, reducing imports alone will not stabilise the cedi,” he said.
Mr Jackson called for policies that enhance productivity, reduce the cost of doing business, expand industrial capacity and promote technology transfer through joint ventures.
He urged a shift in national discourse toward building efficient and competitive industries, adding that imports would naturally decline when local production becomes more attractive.
“Let us focus on making our businesses efficient, our industries resilient, and our products globally competitive,” he said.
GHBUSS
April 7, 2026
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