The Executive Chairman of the Jospong Group of Companies (JGC) has advocated homegrown solutions to address the economic challenges currently bedeviling the country.

Dr. Joseph Siaw Agyepong made the call at the 2022 annual thanksgiving service of the JGC and Zoomlion on Friday, December 9, 2022, at the group’s head office at Ashalley Botwe in Accra.

“The economic challenges that we are facing should rather bring forth our entrepreneurial spirit as we find homegrown solutions to them,” he said.

According to him, it is now time for Ghanaians to increase domestic production and ensure that “we consume what we produce in order to reduce the incessant pressure on the Ghana cedi.”

To this end, he stressed the need for the nation to prioritise industrialisation.

He bemoaned that 2022 has been characterised by harsh economic challenges, adding that these have had negative impacts on businesses and individuals.

“In these circumstances, there is the inclination to gloss over the goodness of the Lord and not appreciate Him for divine preservation. Let’s remember that through it all, the Lord has been good and faithful to us,” he added.

Dr. Agyepong was optimistic that Ghana would eventually come out of its economic doldrums.

He commended the government for its policy initiatives to boost local productive capacity and the protection of local industries by cutting down on imports. 

“Indeed, the government’s decision to restrict the importation of commodities such as vegetable oil, rice, poultry, fruit juices, and ceramic tiles, is a step in the right direction towards self-sustenance,” he said.

However, the Executive Chairman of JGC called for an extension of the restriction to cover anything that is being produced by locals.

“In this regard, we need to boost the domestic avenues for their production, and these avenues would create ample job opportunities for our youth.

“As we applaud government over its domestication efforts, we are humbly asking government to be committed and very firm on this policy. We don’t want a situation where people will invest heavily in local industries only to be derailed by a lack of commitment on the part of government,” Dr. Agyepong pleaded. 

In the wake of the current economic circumstances, Dr. Agyepong applauded the hard work, patience, support and resilience of Ghanaians.

“By our nature and cultural orientation, Ghanaians are typically industrious, peace-loving, united and supportive.  We are well-known, and ever will be, for these virtues. Ghanaians have been known to love their country, and able to work hard to manage their own affairs when given the opportunity. Regardless of how unsatisfactory conditions are, our people have been loyal to our beloved country,” he expressed.

“As we strengthen our feet in the paths of domestication, we are entreated to work harder than ever before, to do quality work and produce quality commodities.”

He further stressed the need for Ghanaians to have a healthy attitude towards Ghana-made products and patronise them.

This, he explained, will help the economy to bounce back.

“We must all cherish, support, and sustain the modest gains that we have made over this period. May I use this opportunity to also encourage other businesses to support the efforts and initiatives of the government?

“I will continue to admonish the youth to also put their hands on deck, launch out and take advantage of opportunities being provided by government through its various youth-related initiatives like YouStart, planting for food and jobs to contribute their quota to national development,” he stated.