Government has announced plans to restructure the economy to improve productivity and make local businesses more competitive in global markets.

Speaking at the ACI World Congress 2026, Deputy Finance Minister Thomas Nyarko Ampem said the government was pursuing what he described as a “fundamental re engineering” of the country’s economic model.

He said the strategy would focus on adding value to local production through innovation, industrialisation and productivity growth, as Ghana seeks to reduce its dependence on raw commodity exports and informal economic activity.

“We want Ghanaian businesses to compete globally,” he said.

Mr Ampem said the government was shifting away from an extraction driven growth model towards an export oriented industrial economy that can better withstand external shocks and economic pressures.

He also stressed the importance of using African capital to finance development across the continent, while calling for stronger domestic financial markets to support innovation, enterprise and long term growth.

The government’s strategy places significant emphasis on creating opportunities for young people to build technology driven businesses instead of relying mainly on salaried employment.

It also aims to strengthen local manufacturing and connect agriculture more closely to commercial export value chains.

Authorities are additionally seeking to expand digital financial inclusion to improve access to financial services and encourage wider participation in the formal economy.

The remarks come as Ghana continues to face structural challenges that have slowed productivity growth, even as policymakers seek to attract investment and improve the country’s competitiveness in regional and international markets.

Story By Martha Seyram Jackson || Metro Digital

Source: MetroTV