In a recent press briefing held at the Ministry of Information, Osafohene Dr. Afua Asabea Asare I, the Chief Executive Officer of the Ghana Export Promotion Authority (GEPA), announced that Ghana achieved an impressive earnings of nearly $4 billion from Non-Traditional Exports (NTEs) in 2023. This significant milestone underscores the country’s successful diversification strategy, which has broadened Ghana’s export portfolio beyond its traditional staples like cocoa beans and timber. Dr. Asabea Asare highlighted that the NTE sectors now encompass a variety of products drawn from agribusiness, manufacturing, arts and crafts, and various service industries, signaling a vibrant and growing economy.
The statistics provided by Dr. Asabea Asare indicate a remarkable performance in the NTE sector, with GEPA reporting earnings of $3.944 billion, marking an 11.75% increase from the previous year. Among the leading products, iron and steel emerged as the top contributor with earnings of $447.8 million, further solidifying the importance of this sector in Ghana’s export landscape. Other key products included cocoa paste, cashew nuts, and shea oil. The GEPA CEO attributed this growth to strategic interventions focused on capacity building and market development, which are essential for sustaining the upward trajectory of NTE earnings.
An essential component of GEPA’s success formula has been its implementation of various programs aimed at enhancing the skills and capabilities of exporters. Dr. Asabea Asare spoke about how these initiatives have focused on product development, market intelligence, and research, equipping exporters with the knowledge and resources needed to thrive on the global stage. A prime example is the “Youth in Export” program, which is specifically designed to attract young people into the export business. Through this program, participants receive hands-on training and mentorship, ensuring they are adequately prepared to navigate the complexities of the export market.
The “Youth in Export” program has shown promise, with the first two cohorts generating over 500 employment opportunities. Looking ahead, GEPA plans to expand this initiative further, with a third cohort in the pipeline expected to create more than 4,000 direct jobs. This focus on youth employment not only helps to bolster Ghana’s economy but also fosters innovation and creativity among young entrepreneurs who can contribute to the nation’s growth. The proactive approach taken by GEPA in engaging youth demonstrates a commitment to securing a sustainable future for the non-traditional export sector.
Women’s empowerment is another priority for GEPA. Dr. Asabea Asare emphasized the importance of supporting women in the export sector, articulating that empowering women entrepreneurs contributes significantly towards inclusive economic growth. GEPA is actively implementing a range of women-centered initiatives aimed at expanding the presence of women in the international marketplace. According to Dr. Asabea Asare, these initiatives are not merely about economic enhancement, but fundamentally about providing equitable opportunities to all members of society, thus fostering a more inclusive economy.
Looking to the future, GEPA is committed to scaling up its programs aimed at benefiting women exporters and youth alike, while also establishing new partnerships to bolster resources and opportunities. Dr. Asabea Asare’s vision for the continued development of Ghana’s export industry reflects a robust strategy designed to create jobs and uplift communities across the country. As Ghana positions itself as a formidable player on the global export stage, the ongoing efforts to diversify exports, empower women, and engage youth will be instrumental in driving sustainable economic growth across various sectors of society.
