Some economists have suggested that the government improve its flagship One District-One Factory (1D1F) project in order to minimise its reliance on imports.
They stated that President Nana Addo Dankwa Akufo-1D1F Addo's project has the potential to shift the economy from import-dependent to manufacturing, value-added, and export-oriented, and that it must be executed in that manner.
They said that if done correctly, it might help strengthen the native currency (the Cedi), alleviate exchange rate issues, and generate more employment, all of which would improve Ghanaians' well-being.
"On theory, 1D1F should assist," said Dr. Patrick Assuming, an economist. "However, we've had it for six years now, and we still haven't seen a big shift of our import and exports, so in that sense, I think it's a waste of time."
"Unfortunately, it's been mostly an unemployed group," he said, despite the fact that the economy was booming. We haven't been able to create many jobs, and the unemployment rate doesn't appear to be improving."
"You cannot be conducting 1D1F on the basis of Planting for Food and Jobs (PFJ) and still be importing fertiliser," stated a Senior Lecturer at the University of Ghana Business School (UGBS).
Dr. Asuming highlighted that the government's initiatives would not fix the country's exchange rate problems until steps were done to address the economy's underlying and structural problems.