Renowned Economist Urges Ghana to Unlock Agricultural Potential for Exceptional Growth

Professor Yaw Nyarko, an esteemed economist at New York University, has emphasized the imperative for Ghana to reconsider and invest substantially in its agricultural sector to amplify its growth potential. The professor underscored the critical nature of this initiative, citing the immense potential latent within the agricultural domain.

Addressing the Achimota Speaks Forum on Thursday, November 16, 2023, Professor Nyarko underscored the significance of agriculture, stating, “Agriculture, I think, is where a lot of potential exists.” He elaborated on the historical significance and inspirational aspects of the agricultural sector, envisioning Ghana as a nation with exceptional agricultural prowess. “I think it’s a place with a lot of promise. Ghana could be a place that is exceptional in agriculture, and we should think about it,” he remarked.

Professor Nyarko proposed the establishment of national markets for crops such as maize, soya, and sorghum, mirroring the successful revenue generation model observed in the cocoa market. Drawing from international examples, he emphasized the necessity for a more robust commodities exchange system in Ghana. He explained that these markets would generate consistent demands, thereby benefiting farmers with a reliable and stable market for their produce.

In essence, Professor Yaw Nyarko’s insights advocate for a strategic reevaluation of Ghana’s agricultural sector, envisioning a future where the nation harnesses its historical and inherent strengths in agriculture to emerge as an exceptional player on the global agricultural stage.