UGBS Professor of Finance, Godfred Bokpin Urges Gov’t to Prioritise Agric to Reset the Economy
Prof. Godfred Bokpin, Professor of Finance at the University of Ghana Business School (UGBS) has called for the prioritisation of agriculture to boost the economy. This was captured in an article, “Use Agric to Reset Economy: Prof. Bokpin advocates at Graphic Business X Spaces Forum” published by the Daily Graphic on Friday 17th January 2025.
During the X Space conversation on the theme: “Resetting Ghana; What it will take”, Prof. Bokpin recommended that the government invest in agriculture, agribusiness and agricultural processing to position Ghana as an agribusiness hub to drive economic growth. He also urged investment in irrigation systems, provide support for farmers and implement policies that encourage private sector investment in agriculture. Prof. Bokpin stated that, “Ghana can increase its agricultural productivity and competitiveness by adopting modern farming techniques, improving irrigation systems and developing value chains.”
With food inflation at 27% and overall inflation reaching 23.8%, Prof. Bokpin emphasised that agriculture is the only sector with the ability to reduce inflation, create unemployment and boost economic growth. According to him Ghana can reduce its reliance on imports, increase food security and create jobs for the youth by prioritising agriculture.
He revealed that smuggling of fertilisers out of the country deprive farmers of essential resources and undermines the country’s agricultural productivity. He again mentioned that resetting Ghana requires a multifaceted approach that prioritises agribusiness and agriculture development. He pointed out that Ghana can learn from Cote d’ Ivoire, which has achieved self-sufficiency in agriculture by implementing irrigation schemes and extension services. It has also diversified its crops including cocoa, coffee and rubber to reduce dependence on single crops and increase agricultural productivity.