Local production remains our only hope to stabilise cedi – Armah Quaye

In a recent statement, Armah Quaye highlighted the critical role of local production in stabilizing Ghana's currency, the cedi. He emphasized that relying on imports has strained the nation’s economy, making it imperative to boost domestic manufacturing. Quaye stressed that enhancing local production capabilities can not only alleviate pressure on the cedi but also create jobs and stimulate economic growth.

He pointed out that a strong focus on agriculture and industry is essential for reducing dependency on foreign goods, which often leads to unfavorable trade balances. By investing in local resources and talent, Ghana can foster self-sufficiency and resilience against global market fluctuations. Quaye called for collaborative efforts between government and private sectors to develop strategies that support local producers.

Furthermore, he urged policymakers to prioritize initiatives that encourage innovation and entrepreneurship within the country. Ultimately, Quaye believes that by championing homegrown industries, Ghana can pave the way toward a more stable economic future while enhancing the value of its currency against external pressures.