Ghana Seeks Economic Transformation: Mahama Unveils Plan to End Raw Material Exports

Ghanaian President Unveils New Economic Policies to Reduce Reliance on Raw Material Exports ACCRA, GHANA – June 2, 2025 – President John Mahama today announced key policy initiatives aimed at transforming Ghana's economy and reducing its dependence on exporting raw materials. Speaking at a major economic forum, President Mahama stated, "My administration is committed to moving beyond extraction to transformation." This strategy includes significant investments in downstream industries, such as refining gold and bauxite processing. The goal is to create jobs, generate higher revenue within Ghana, and increase the country's economic resilience. The president's speech highlighted the need for greater Ghanaian participation in the mining sector. He emphasized the importance of partnerships with foreign investors, but stressed the need for mutual benefit. "We want a partnership of mutual benefit," President Mahama said. He also announced plans for a track-and-trace system for gold exports, ensuring environmentally sustainable practices. Ghana's gold exports have already shown significant growth, reaching $2.7 billion between January and April 2025. This figure is expected to rise substantially throughout the year, boosting the national economy. The president's address signals a significant shift in Ghana's economic strategy, prioritizing domestic value addition and broader economic participation.