Ghana spent GH¢39b on food imports in 2024- Goosie Tanoh

Ghana spent a staggering GH¢39 billion on food imports in 2024, according to Augustus Goosie Tanoh, Presidential Adviser on the 24-Hour Economy policy.

Tanoh revealed the figure in a recent address, highlighting the country’s continued reliance on foreign food products despite its agricultural potential. The disclosure has reignited discussions about Ghana’s trade balance and the urgent need to boost local production.

“We cannot continue to spend billions of cedis importing what we can grow ourselves,” Tanoh said, underscoring the government’s commitment to the 24-Hour Economy policy as a strategic intervention to transform the agricultural sector. He argued that the policy would create round-the-clock operations in farming, processing, and distribution, reducing post-harvest losses and increasing food self-sufficiency.

Economists have expressed concern over the growing food import bill, which places significant pressure on the cedi and widens the trade deficit. The GH¢39 billion figure represents a substantial portion of the country’s total import expenditure for the year.

Tanoh called for deliberate investments in irrigation, storage infrastructure, and agro-processing to reverse the trend. “The goal is to make Ghana a net exporter of food, not a perpetual importer,” he added.

The government is expected to outline specific measures under the 24-Hour Economy policy in the coming months to address the structural challenges driving the high food import bill.