Juapong: Ghana now imports nearly 80% of its essential goods, spending an estimated $1.5 billion annually on textiles alone, as revealed by Dr. Ishmael Nii Amanor Dodoo, Director of Partnership and Markets at the 24-Hour Economy Secretariat. Dr. Dodoo made these remarks during the launch of the 2025 Volta Trade and Investment Fair in Juapong, emphasizing the negative impact of import dependence on the country's industrial and economic independence.
According to Ghana News Agency, Dr. Dodoo reflected on Ghana's lost industrial legacy, referencing the internationally recognized 'Volta Corned Beef' brand and the country's pioneering achievements in producing West Africa's first transistor radios and Sanyo color televisions. He argued that the nation possesses the talent and potential to revive its industrial prowess.
Dr. Dodoo outlined the Volta Economic Corridor as a crucial element of the 24-Hour Economy vision, which aims to integrate multi-modal transport across the Volta Lake to facilitate the movement of over 8.2 million tons of goods annually. This initiative is expected to enhance irrigation schemes for large-scale cereal and vegetable production, allowing Ghana to access West Africa's $1.3 trillion market.
Mrs. Edith Abla Amenuvor Afewu, General Secretary of Organised Labour, highlighted the importance of reviving industries like Volta Star Textiles to restore dignity to households. She called on investors to respect labor rights and assured them of organized labour's full support for the industrial revival in the region.
Mr. Jerome Kwaku Dunyo, Managing Director of Volta Star Textile Limited, pointed out that the textile sector once employed over 25,000 people across 16 companies, contributing approximately 12% to GDP. He noted that currently, only three companies remain, with Volta Star being inactive. A $100 million business plan has been proposed to revive the Juapong-based factory, offering scalable investment options from $25 million.
Mr. Dunyo expressed gratitude to the government, stakeholders, and the Volta Regional Minister for their support in reviving the textile industry, while acknowledging President John Dramani Mahama's commitment to this cause.
The Fair, themed 'Volta Rising: Building Global Partnerships for a Thriving 24-Hour Economy', served as both a trade platform and a call to action for Ghana to reclaim its industrial base and enhance the Volta Region's role in national productivity and growth.
