Interview: Expert urges value addition to Ghana's economy under new government

For Ghana's economy to thrive under the new administration, value addition to raw materials would be key, International Relations expert Prof. Kwame Agyenim Boateng has said.

In an interview with Xinhua here on Friday, the Professor of Political Science, International Relations and Philosophy at West Virginia Wesleyan College in the USA and Kings University College in Ghana urged that structures be put in place to ensure that Ghana's raw materials are processed before being exported.

"Ghana is a small economy, we are still growing, a developing country, even though a lot of people make us believe we are lower middle income. But the economy needs to grow. We have the natural resources, so we should add value to our natural resources before we export them," he urged.

The International Relations expert kicked against the continuous exportation of gold, cocoa, diamond and timber in their raw state, instead of adding value to them which will both create jobs and push the economy forward.

The university teacher believes that the cocoa, gold, and oil exporter needs to build factories where some of these raw materials and other products that the country otherwise imports are processed locally to ensure effective import substitution, as the way forward for the economy.

On the challenges the current government of Nana Akufo-Addo could face, Prof. Agyenim-Boateng who is also chairman of the state-owned minerals marketing company, Precious Minerals Marketing Company noted that it will be how to fulfill its numerous promises to the electorate.

"One of the challenges this government will face is that it promised; a lot of promises; One district-one factory; it didn't define the factory anyway; one village one dam; one million dollars for each constituency," he predicted.

According to him, many of the promises, were what some Ghanaians wanted to hear hence the ruling New Patriotic Party's campaign message, but fulfilling them would be a challenge, since "if you use some of these, where will you get money for development?"

Prof. Agyenim Boateng who may have leanings towards the now opposition National Democratic Congress was however of the opinion that in terms of employment for nurses and teachers, the government would benefit from the vast legacy of new educational and health infrastructure put in place by the previous government and so could employ more nurses and teachers.

The expert was also optimistic of positive foreign relations as Ghana's foreign policy was not likely to change under the new government. Endit