According to the AGI, securing local alternatives will ease pressure on the cedi, as the demand for foreign exchange to purchase raw materials remains a key driver of its depreciation.

The association believes this shift is crucial for long-term economic stability and industrial growth.

Speaking to Citi Business News, the Greater Accra Regional Chairman of AGI, Tsonam Akpeloo, emphasised the need for urgent government intervention through the newly established Ministry of Trade, Agribusiness, and Industry.

For years, the AGI has warned that Ghana’s over-reliance on imported raw materials has weakened local industries, widened trade deficits, fuelled inflation, and increased national debt.

The group has also raised concerns about the vulnerability of Ghana’s supply chain, particularly in times of global economic disruptions, as seen during the COVID-19 pandemic.

Meanwhile, the government, under President John Dramani Mahama, has introduced a new ministerial structure aimed at driving economic transformation.

The Ministry of Trade, Agribusiness, and Industry is expected to play a central role in reducing import dependency, enhancing industrial productivity, and improving Ghana’s trade balance.

The new ministerial structure was formalised through the Civil Service (Ministries) Instrument (2025) (E.I. 1), signed on January 9, 2025, replacing the 2021 framework.

The restructured ministries reflect the government’s focus on key sectors such as agribusiness, green energy, digital transformation, youth empowerment and job creation.

Industry players are now looking to the new administration for concrete policies that will boost local raw material production and provide long-term relief for manufacturers struggling with rising import costs.