Mahama calls for structural reforms to drive industrial growth
President John Dramani Mahama has set a new national target to increase Ghana’s manufacturing contribution to at least 15 percent of Gross Domestic Product (GDP) by 2030, supported by the creation of 500,000 quality industrial jobs.
Speaking at the Presidential Dialogue with the Private Sector at the Jubilee House on Monday, February 23, President Mahama acknowledged signs of economic stabilisation but cautioned that stability alone does not amount to transformation.
According to him, while the economy is showing positive signals, sustained long-term growth will depend on deliberate structural reforms anchored on a vibrant and competitive private sector.
The President stressed that no government can succeed without a strong partnership with the private sector, which he described as the engine of sustainable growth, job creation, and innovation.
He noted that for more than five decades, Ghana’s manufacturing sector has contributed only about 10 percent to GDP — a level he said is inadequate to drive large-scale industrialisation and employment.
“Emerging Asian economies starting from a similar basis have achieved a manufacturing share of 20% to 30% of GDP, thereby creating mass employment and export competitiveness. And so we need to change our trajectory.
“I therefore set a national target: manufacturing must contribute at least 15% of GDP by the year 2030, supported by 500,000 new quality industrial jobs. This will require structural reform and not incremental adjustments,” he said.
The 15 percent target forms part of the government’s broader strategy to reposition the economy toward industrial expansion, value addition and sustainable job creation.
