This he said would be a huge antidote to arrest the free fall of the Cedi and depreciation. The Cedi has since January this year, depreciated against major trading currencies like the U.S. dollar by 16 per cent.
“Our political leaders must work hard at transforming the structure of the economy, thus unbridled import economy and unprocessed produce export regime,” he said.
Right Rev. Asare Bediako said this at the 36th annual General Synod of the Sunyani Diocese of the church on the theme: “Holistic spirituality intensifying church planting efforts,” at Duayaw-Nkwanta.
He expressed concern about the continued investment in alcoholic beverages and the conversion of staple foods like cassava for the production of alcoholic beverages.
The trend, he said, had the propensity to worsen food supply and impoverish the nation.
“It is unfortunate that the fastest industry now is alcoholic beverages sector, advertisement dominates the airways,” he said.
In the quest to attract foreign investment, he emphasised “we must master courage to be selective in the kind of industry our investors set up”.
The Methodist Bishop urged economic experts to identify critical items of consumption and imports which Ghana has competitive advantages for in the development of the country.
Buttressing his point he said many Asian economies had developed along this line of growing indigenous industry, adding that the industry could be operated on joint venture basis for proper supervision.
Touching on some developments that have taken place in the church, he mentioned a $30,000 ICT centre at Abesewa, a three-unit block clinic at Kwakunya and 7,000 clinic at Atomfoso among others as some infrastructural developments embarked on by the church.
From: Daniel Dzirasah,Duayaw-Nkwanta