Mr. Joe Jackson, Chief Executive Officer of Dalex Finance, has called for a shift in Ghana’s economic narrative, cautioning against blaming imports for the country’s financial challenges.
Speaking at a Chartered Institute of Marketing Ghana (CIMG) economic dialogue in Accra, he argued that consumer choices 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 noted.
Mr. Jackson emphasised that structural issues—such as high operational costs, limited access to capital, inefficient supply chains, and inadequate support for domestic industries—pose a greater challenge than the mere presence of imports. He warned that campaigns to shame consumers or restrict imports would fail unless local manufacturing and agribusiness sectors are made competitive.
Highlighting the benefits of global markets, he pointed out that access to affordable imported goods, from electronics to building materials, helps households stretch incomes, particularly during inflationary periods.
He further noted that Ghana’s currency challenges stem more from the limited retention of export earnings than from imports themselves. Addressing structural inefficiencies, boosting productivity, reducing business costs, expanding industrial capacity, and facilitating technology transfer through joint ventures, he said, would naturally reduce reliance on imports.
“Let us focus on making our businesses efficient, our industries resilient, and our products globally competitive. When that happens, imports will reduce naturally—not by force, but by choice,” Mr. Jackson concluded, urging policymakers to prioritise realistic, long-term reforms to strengthen Ghana’s economic foundation.
