From Ghana Web

President John Mahama insists Ghana remains the preferred investment destination despite economic challenges the country is facing.

The President also insists the economic prospects of the country are still bright although there are concerns over economic problems that have resulted in Ghana losing out to its peers in the region.

“I think that Ghana is still a frontier market with lots of potential. It’s still the most attractive destination in West Africa…and I believe the focus has been too much on the short-term economic challenges,” he told the BBC in an interview on Friday.

Describing the country’s current economic challenges as part of “a cycle of booms and busts,” the President maintains “Ghana’s economic structure is part of the problem.”

“We are a highly import-dependent economy, and so even for items that we have a comparative advantage to produce, a lot of Ghanaian entrepreneurs find it easier to just import it,” he explained.

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