Revamping collapsed industries under Ghana’s ‘New economy’ key to creating sustainable jobs — Dr Kwabena Donkor
Former Minister for Power, Dr Kwabena Donkor, has urged the government to prioritise reviving collapsed industries to help create sustainable jobs for Ghanaians.
Data suggest that the national youth unemployment rate increased from 32 per cent in December 2024 to 32.5 per cent in the third quarter of 2025. The Greater Accra Region continues to record the highest rate, currently standing at 49.3 per cent.
The former MP for Pru East believes the establishment of new factories and resurrection of defunct factories will not only create real jobs but also help earn the country foreign exchange to stabilise the country’s currency.
His comment comes ahead of the 2027 budget statement and economic outlook which will be presented to Ghanaians by Finance Minister, Dr Cassiel Ato Forson, on Thursday November 12,2026.
During the presentation, Dr Forson is expected to announce a new way of managing the economy as well as prudent investments the government will adopt in the 2027 fiscal year.
Job creation, infrastructure expansion and fiscal discipline are expected to be at the centre of the new direction government has taken dubbed ‘The New Economy’.
Dr Kwabena Donkor who was speaking on Politics and Beyond on TV XYZ emphasised that the country’s wealth-creation approach ought to prioritise industrialisation and pragmatic investments that will lower living standards and curtail inflation.
He mentioned the defunct Wenchi Tomatoe factory and Nsawam Cannery as industries whose revival could create thousands of jobs for the people and help deal with glut.
To him, such investments into agro-processing will help drop food prices to the benefit of the citizens.
He also advised that since government is the biggest spender, steps must be taken to “reset our taste” and direct it to local produce like rice and other commodities which the country exports with millions of dollars which negative affects the strength of the Cedi.
The approach, he noted, will motivate peasant farmers to increase their yield and strengthen them financially.
Source: Myxyzonline.com
