Financial analyst Dr. Richmond Atuahene has cautioned that the stability of the Ghana cedi could be jeopardizing the nation’s export sector. He contends that prevailing economic trends are increasingly favoring imports over domestic production and exports.
During his appearance on the Citi Breakfast Show on Thursday, April 16, 2026, Atuahene remarked that while a stable currency is often perceived as beneficial, it can diminish incentives for exporters and perpetuate Ghana’s reliance on imports.
“Whenever the cedi stabilizes, the export sector is adversely affected. The rationale is that if the cedi is GH¢10 to $1 and I export, returning with the same GH¢10, then what is the purpose of exporting instead of importing?” he stated.
He expressed concern that recent economic improvements, such as enhanced reserves, could exacerbate what he termed an “import mentality” unless accompanied by intentional policies aimed at boosting exports.
“When we assert that the cedi has stabilized and we possess reserves, all these factors contribute to reinforcing the import mentality we currently have. It is imperative that we alter this mindset,” he emphasized.
Dr. Atuahene advocated for a transition towards an export-driven growth strategy, asserting that Ghana must focus on local production to alleviate inflationary pressures and fortify the economy.
“We must recognize that by adopting an export-oriented approach rather than an import-focused one, individuals will not be overly concerned with inflation. We import virtually everything, including items that can be cultivated locally,” he remarked.
He also highlighted the increase in remittances as a potential avenue to enhance export capacity, rather than exacerbate imports.
“The president himself noted that remittances have surged significantly. However, instead of broadening the export base, we are widening the import base. Consequently, importers are thriving, while exporters are suffering,” he added.
Atuahene emphasized the need for policy reforms to support exporters and reduce dependence on imports, warning that without a fundamental shift, Ghana’s economic advancements may not lead to lasting resilience.
