Dr. Johnson Asiama, the governor of the Bank of Ghana, has explained the current crisis in Burkina Faso as both a regional problem and a possible source of economic opportunity, especially in Ghana’s agricultural sector.
Dr. Asiama pointed out the dangers of instability in neighbouring Burkina Faso, including disruptions to trade, food supply chains, and cross-border economic activities, while discussing recent events on Channel One TV.
He did, however, highlight the need for a forward-thinking strategy to turn these difficulties into strategic advantages, pointing out that the circumstances may increase local manufacturing and provide work for young people without jobs.
The Governor claims that a small, targeted working group has already been formed to investigate practical solutions in cooperation with important organisations including the Ghana Export-Import Bank, the Ministry of Agriculture, and the Ghana Export Promotion Authority.
“The risks posed by the Burkina Faso crisis to me are opportunities. We decided to set up a small group, and we’re going to work with the Ministry of Agriculture. We will work with GEXIM and the Ghana Export Promotion Authority (GEPA). The thing is, if Burkina Faso bans exports of tomatoes, why should it become a crisis in Ghana?
“We have five hundred thousand young people looking for work to do. We have money with the Ghana EXIM Bank, and we have the varieties, what are we waiting for? GEXIM, we were going to give you a call. We are all going to descend and get these things solved,” Dr Asiama explained.
Dr. Asiama pointed out that Ghana has the ability to increase local production in order to cover any gaps that might arise from Burkina Faso’s disruptions. The nation might protect its food supply and establish itself as a more powerful force in regional markets by helping farmers, enhancing logistics, and investing in local agriculture.
In the wake of Burkina Faso’s export prohibition, the government has proposed a number of initiatives to increase tomato production, lower post-harvest losses, and increase irrigation-backed cultivation in order to stabilise supply.
During a news conference in Accra, Eric Opoku, the Minister of Food and Agriculture, reassured the public that despite import disruptions, the nation will not experience a tomato scarcity.
He explained that in order to cut waste and guarantee that farmers have ready purchasers for their produce, the immediate response concentrates on creating high-yielding seed varieties, expanding irrigation programs, and fortifying market relations.
Working with the West Africa Centre for Crop Improvement to develop enhanced tomato seeds that can quickly increase yields to at least 15 metric tonnes per hectare is a crucial part of the plan.
The Minister emphasised the necessity of developing local capability by pointing out that Ghana’s reliance on tomato imports from Burkina Faso had shown weaknesses in the nation’s food chain.
As Burkina Faso’s situation develops, Ghana’s reaction might be used as a template for neighbouring nations to manage uncertainty and turn regional volatility into an opportunity for development.
Source: newsthemegh.com