Economist Prof. Festus Ebo Turkson warns that Ghana risks losing recent currency stability if it fails to make its manufacturing sector more competitive, citing high electricity costs forcing businesses to shut down and increasing import dependence. He argues the current economic stability provides an opportunity for structural reforms like domestic oil refining to reduce imports and strengthen the cedi.
17 July 2026 · Joy Online →
Economist Prof. Festus Ebo Turkson warns that expensive power is forcing businesses to shut down and weakening the cedi through increased import dependence. He urges structural reforms, citing the resumption of crude oil supplies to Tema Oil Refinery as an example of the kind of economic transformation Ghana needs to build resilience.
17 July 2026 · Joy Online →
Economist Prof. Festus Ebo Turkson has described TOR's decision to refine crude from Ghana's Jubilee Field as a major structural reform that could reduce pressure on the cedi and make the economy more resilient. He argued that a stronger cedi would lower inflation, reduce monetary policy rates, and allow businesses to expand.
17 July 2026 · Joy Online →
Economist Professor Festus Ebo Turkson has urged the Mahama administration to use the current period of macroeconomic stability to implement long-delayed structural reforms, citing the supply of crude oil from the Jubilee Field to the Tema Oil Refinery as an example of the kind of change needed to build economic resilience and reduce pressure on the cedi.
17 July 2026 · Joy Online →
Economist Prof. Festus Ebo Turkson says Ghana should leverage its current economic stability to pursue major structural reforms and build resilience to future global crises, citing the refining of crude oil from Jubilee Fields at Tema Oil Refinery as an example of the kind of transformation needed to reduce import dependence and stabilise the cedi.
17 July 2026 · Joy Online →
Economist Prof. Festus Ebo Turkson says Ghana should use current economic stability to undertake major structural reforms to strengthen the economy and make it more resilient to global shocks. He cited crude oil supply from Ghana's Jubilee fields to the Tema Oil Refinery as an example of necessary transformation that could reduce dependence on imported refined products.
17 July 2026 · Joy Online →