Ghana still in economic servitude after 68 years – Dr Ishmael Yamson

The Chairman of the National Economic Dialogue Planning Committee, Dr Ishmael Yamson, has stated that Ghana remains economically dominated and heavily indebted, despite marking its 68th anniversary of political independence.

He noted that the country continues to struggle with widespread unemployment, particularly among the youth, which has become a significant security concern.

Additionally, he said that, Ghana is the most food-import-dependent country in Sub-Saharan Africa, relying heavily on foreign markets to feed its population.

Speaking at the 2025 National Economic Dialogue in Accra today, March 3, Dr Yamson highlighted the collapse of the manufacturing sector and the pervasive economic hardship affecting citizens.

"We know why we are where we are today," he stated, attributing Ghana’s economic struggles to systemic failures.

Dr Yamson criticised the country’s political culture, describing it as one motivated by power and self-interest, with politicians looting state resources for personal gain.

He lamented the prevalence of selfishness, arrogance, and impunity among political leaders and public officials.

He further pointed out that Ghana’s governance system had been reduced to a "party-capture" model, where opposition parties deliberately obstruct national progress rather than supporting genuine development efforts.

"A party capture political system where the party in the opposition chooses to sit on the fence and does everything even including misleading the people to undermine genuine efforts to develop the country. There is no longer love for country," he remarked.

Dr Yamson listed several structural issues affecting Ghana’s economy, including mismanagement, macroeconomic instability, institutionalised corruption, and weak state institutions.

He described the government as "maximum governance with minimum leadership," citing inefficiencies in economic and social infrastructure, failed agricultural policies, and a continued overreliance on imported value-added products rather than developing local industries.

Despite decades of independence, he noted that Ghana remained primarily an exporter of raw commodities while depending on imports for processed goods—an economic structure that has hindered sustainable development.