The Future Trends Africa Manifesto, a groundbreaking policy document by Dr. Farzam Kamalabadi, advocates for a bold shift in Ghana’s economic strategy to prioritize self-reliance and sustainable growth.
Highlighting the need to move beyond reliance on Foreign Direct Investments (FDIs), the Manifesto calls for the establishment of domestic wealth-generation systems, including capital formation, crowd financing, and the creation of resource-specific banks for minerals, agriculture, energy, and water.
Dr. Kamalabadi emphasized that Ghana’s economic recovery depends on reduced bank interest rates for enterprises and leveraging its abundant resources to generate internal wealth. “Africa must see itself as a giver, not a receiver. Wealth is created, not donated,” he stated.
With Ghana engaged in a $3 billion IMF program to stabilize its economy, President John Dramani Mahama’s administration is tasked with implementing reforms to foster growth and create jobs. Dr. Kamalabadi argues that collaborative efforts among African nations and a focus on internal investment are essential for long-term economic transformation.
The Manifesto envisions expanding Africa’s collective economy from $3.2 trillion to $60 trillion within a decade through these measures, making it a blueprint not just for Ghana but for the entire continent.