Elizabeth Ofosu-Adjare launches policy to cut $750m drug import bill

The government has officially launched the Ghana Pharmaceutical Manufacturing Policy, a strategic initiative designed to drastically reduce the country’s reliance on foreign medicines. Ghana currently spends approximately $750 million annually on pharmaceutical imports, which account for 70% of the total medicines consumed in the country. The new policy aims to reverse this trend by boosting domestic production and positioning the nation as a premier manufacturing hub within the West African sub-region.

Minister of Trade, Industry and Agribusiness, Elizabeth Ofosu-Adjare, emphasized that the framework is intended to create significant investment opportunities while strengthening the capacity of the local industry. By incentivizing domestic manufacturers, the government hopes to ensure that Ghanaians have access to safe, high-quality, and affordable medicines. The policy is expected to attract both local and foreign capital, fostering a competitive environment that supports industrial growth and job creation.

The initiative has received strong international backing, notably from the German government. German Ambassador Frederik Landshöft endorsed the policy, noting that the vulnerabilities exposed by the COVID-19 pandemic highlighted the urgent need for regional self-sufficiency in healthcare supplies. He pointed to the importance of regional trade collaborations and the role of local manufacturing in mitigating the risks of external supply chain disruptions that often affect the continent during global crises.

Looking forward, the successful implementation of this policy is seen as a critical step in enhancing Ghana's industrial competitiveness. Beyond meeting domestic demand, the government intends for the local pharmaceutical sector to become a major exporter to neighboring markets. By reducing the $750 million import bill, the state aims to stabilize its foreign exchange reserves and build a more resilient healthcare system capable of providing essential treatments without over-reliance on international suppliers.