Former President of the Association of Ghana Industries (AGI), Tony Oteng-Gyasi, has urged Ghana to seize what he described as a “one in a century opportunity” to pursue a bold, well-structured industrialisation agenda, as the global economic order shifts away from unfettered globalisation towards protectionism.
Delivering remarks at the investiture of the new AGI President on Wednesday, January 21, 2026, Mr Oteng-Gyasi said the incoming leadership is assuming office at a time of profound change and uncertainty in the global economy.
“You are taking office at a time of great change and uncertainty in the world economy,” he noted, observing that the globalisation agenda of the past five decades is rapidly giving way to a more traditional approach where “each country [is] for itself”.
He pointed to the resurgence of protectionism, particularly in the United States, describing the rise of “Trumpism” as a clear signal that tariffs and inward-looking economic policies are once again being embraced openly.
“The advent of Trumpism has shifted the focus of the world’s number one economy to protectionism to the extent that even the much-maligned use of tariffs as a total economic and political strategy is back in fashion openly,” he said.
According to Mr Oteng-Gyasi, Africa has historically been disadvantaged by globalisation, having been positioned mainly as a source of cheap raw materials and a market for finished goods from developed economies.
“Africa under the globalisation agenda was expected to be merely a source of cheap raw materials and an open market for manufactured goods,” he stated.
Against this backdrop, the former AGI President argued that Ghana must respond decisively by launching a comprehensive industrialisation drive, noting that the country missed similar opportunities in the late 1960s and 1970s when several Asian economies aggressively industrialised.
“To be blunt, I think this is an opportunity for the country to launch a full-scale industrialisation agenda,” he said, describing the current moment as “a unique time to implement a proper and well thought out manufacturing agenda”.
He outlined the need for a detailed, sector-by-sector manufacturing policy, complete with clear implementation plans, cross-sector linkages, cost and revenue projections, and job creation analysis. He recommended a value-chain approach, supported by regular reviews and adjustments.
“This begins with a well-crafted sector by sector manufacturing policy with an implementation programme and cross sector linkages spelt out,” he said.
Mr Oteng-Gyasi also welcomed the recent establishment of a Presidential Advisory Group on the Economy, which includes experienced private sector figures such as Kwame Pianim, Ishmael Yamson and Torgbe Afede. He described them as individuals who understand manufacturing deeply, including the factors that drive its success.
He urged the incoming AGI President and executive to work closely with the advisory group to ensure the industrialisation agenda gains momentum.
“I urge you, Mr Incoming President of AGI and your executive team, to liaise fully with them and ensure the industrialisation agenda kicks off,” he said.
Turning to AGI’s membership, Mr Oteng-Gyasi appealed for strong support for the manufacturing drive, stressing that a thriving manufacturing sector underpins growth across the entire economy.
“When manufacturing succeeds, every other sector does well,” he said, citing banking, insurance, construction and distribution as beneficiaries.
He emphasised that industrialisation remains the most proven path to sustainable job creation and shared prosperity, particularly for Ghana’s youthful and growing population.
“This is the tested and proven way to achieve growth in jobs and the shared prosperity it comes with,” he added.
In closing, Mr Oteng-Gyasi acknowledged the enormity of the task ahead for the new AGI leadership, telling the incoming President and his team: “You truly have your work cut out for you.”
“For the sake of our youthful and growing population and for the sake of our entire country, I wish you the best of luck,” he concluded.
- President Commissions 36.5 Million Dollars Hospital In The Tain District
- You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
- I Will Lead You To Victory – Ato Forson Assures NDC Supporters
Visit Our Social Media for More
About Author
