Addressing a durbar at New Abirem as part of his campaign in the Eastern Region, Vice President Dr. Mahamudu Bawumia explained that the policy would require state agencies to prioritise the procurement of locally produced goods and services over imports.
The flag bearer of the New Patriotic Party (NPP), Dr. Mahamadu Bawumia has announced that he will introduce a new policy dubbed “Buy Ghana First” if elected President.
According to Dr. Bawumia, the policy will ensure that items such as furniture, school uniforms, and other products that can be manufactured within the country are not procured from other countries for government businesses.
“We will introduce a policy called “Buy Ghana first” for the government. So, if the government wants to procure something that is locally available, we must procure it here instead of importing. For instance, if we need furniture, we must buy from Ghana not that we go to another country to bring in the chairs, furniture, school uniforms”.
The Vice President emphasized that the move is intended to create more jobs for Ghanaians, particularly tailors and carpenters, by ensuring that government contracts for these products are awarded to local businesses.
“This will create more jobs. So henceforth if we want school uniforms we won’t import from China. We will produce all in Ghana so that our tailors will get more work to do. All the furniture will be produced in Ghana for carpenters to get more work. You only go outside when the product is not available in Ghana. The buy Ghana first policy will boost production and save foreign exchange. It will help businesses”
This initiative comes as the country faces increasing pressure to stabilize the Ghanaian cedi, which has been depreciating against major trading currencies.
Recent data from the Ghana Statistical Service revealed that the country’s import bill for the first quarter of 2024 increased by $100 million compared to the same period in 2023, reaching $3.9 billion.
China remains the leading source of imports, accounting for 21.8% of total imports and 45.8% of imports from Asia.
The “Buy Ghana First” policy is expected to help reduce the country’s import bill, boost local production, and support the government’s efforts to strengthen the economy.
Source: Starrfm
