Mr Joe Jackson, Chief Executive Officer of Dalex Finance, has urged policymakers and the public not to portray imports as the cause of Ghana’s economic challenges.
He said the country must instead address competitiveness gaps and strengthen domestic production systems.
Speaking at a Chartered Institute of Marketing Ghana (CIMG) economic dialogue in Accra, Mr Jackson noted that consumer choices are driven by affordability, reliability and value, not by 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.
Mr Jackson explained that blaming traders and consumers for purchasing imported goods diverts attention from deeper structural issues affecting local production.
These include high operational costs, limited access to capital, inefficient supply chains and inadequate support for domestic industries.
Mr Jackson noted that attempts to restrict imports or shame consumers through buy local campaigns would be ineffective unless Ghana’s manufacturing and agribusiness sectors were strengthened to meet modern efficiency standards.
He said that consumers naturally gravitated toward products that offered the best balance of price and quality, and Ghanaian producers must be supported to achieve those standards.
Mr Jackson emphasised that the narrative around imports often overlooked the role global markets played in improving living standards.
He said access to lower cost global goods such as electronics, building materials and household essentials helped households stretch incomes further, especially during inflationary periods.
Mr Jackson said that import levels must be understood within the broader context of Ghana’s currency challenges.
He noted that while imports consumed foreign exchange, the more significant problem lay in the limited proportion of export earnings retained in the country.
Without addressing this structural issue, reducing imports alone would not stabilise the cedi.
Mr Jackson According to him, Ghana should prioritise policies that enhance productivity, reduce the cost of doing business, expand industrial capacity and encourage joint ventures that transfer technology to local firms.
Such measures, he said, would position Ghanaian businesses to compete effectively both locally and internationally.
Mr Jackson reiterated that national discourse on economic reform must be grounded in realism.
“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,” he said.