President Nana Addo Dankwa Akufo-Addo has noted that despite the challenges posed by global happenings such as the COVID-19 pandemic and the Russian-Ukrainian crisis, his administration has been working hard to lay a firm foundation for the industrialisation of the country, which will do away with the neo-colonial structure of the economy.

Addressing senior citizens at a banquet held in their honour on Founders’ Day, August 4, 2023, at the Jubilee House, the President emphasized that, notwithstanding the enormous challenges faced by his government, much has been achieved in ensuring that the country breaks free from being exporters of raw materials and importers finished products, a situation that does not augur well for economic prosperity.

“As President of the Republic, I have been preoccupied with making my leadership of Ghana a period, above all, that our nation lays the foundation from exporting raw materials and retailing of imported goods to a modern, value-adding industrialised one,” he stated.

He added that policies such as the free Senior High School policy, the massive investment in building infrastructure ( roads, railways and others), the digitalisation of the economy among others were part of decisive steps towards putting the country in the right state to rapidly industrialise.

“The digital revolution is changing the face of our society and our country and soon, we will take a deserved place as a modern economy,” he pointed out.

The President has been accused of running the economy aground and seeking an International Monetary Fund (IMF) a bit too late. But he has defended his record, insisting that he has done a good job managing the economy and would have greatly transformed the economy, but for the setbacks brought about by COVID-19 and the war between Ukraine and Russia.