Managing Director of Stanbic Bank, Alhassan Andani, has said there is the need to build domestic resilience in dealing with the effects of the COVID-19 on the economy.
He indicated that Ghanaian authorities should begin to start the conversation now to take the mind of Ghanaians from dependence on export to support us and COVID has shown that we need resilience.
He said on Wednesday September 23 that “We should begin to start the conversation now to take the mind of Ghanaians from dependence on export to support us and COVID has shown that we need resilience.
“We need to build domestic resilience. To maintain stability, it is always about demand and supply. We should as a country focus a lot more attention on selling our goods and services abroad and also reduce our penchant for export.
“Literally, it has been said on every economic forum, but we just say it and do nothing about it. We keep importing toothpicks, handkerchiefs and straws on which you can suck your drink All those things should stop.
“So, two things you have to be done simultaneously to improve export and reduce import, but we need domestic production. There are a lot of things we can produce and avoid using scarce foreign currency,” he told Citi FM.