Association of Ghana Industries (AGI) Presidential hopeful Ralph Ayitey is proposing a significant reduction in Ghana’s over-$2 billion food import bill by through a stronger consumer preference for locally produced foods.
He maintains that a strong domestic demand base can help reduce import dependence and stabilize the sector.
Ghana’s annual food import bill now exceeding $2 billion continues to mount pressure on foreign exchange reserves and deepen the country’s broader economic vulnerabilities.
Industry watchers warn that without a decisive shift toward local consumption, the strain on the economy will persist.
AGI Presidential hopeful and Chief Executive Officer of Coconut Grove Hotels, Ralph Ayitey, in an interview with Citi Business News argued that increasing patronage of Ghana-made food products offers a viable pathway to easing the burden.
“It is very important that we try as much as possible to reduce the 2-2.5 billion import bill that we have on food. Most of the foods we consume take just about 3 months. Talk of maize, rice and millet. It is important we develop the appetite and consciousness to produce and consume what we have. When we do that we reduce the burden on our cedi,” he said.
Beyond food consumption, Ralph Ayitey is also advocating a revitalisation of the cotton value chain to support existing textile factories, with trial activities expected to commence in January.
“We want to gauge the productivity which is the output. But the emphasis here is that we are going quite mechanized but most importantly irrigated. We want to have two cycles in a year.
“We are talking about feeding GTP, Akosombo Textiles and Printex. All of them put together consumer about 50 million yards of fabric a year. It is a whole industry and a whole gold mine that is waiting to be mined,” he added.
