The Chief Executive Officer of Dalex Finance and financial analyst, Joe Jackson, has said Ghana’s inability to create wealth for its economy is the reason for the country’s economic weakness.
Speaking during the Economic Dialogue on the theme: “Who owns the Ghanaian economy” organized by Media General in Accra on Thursday March 26, 2026, Mr. Jackson said while Ghana is a global leader is extraction of natural resource, little of these are used to develop the economy.
“Ghana, we have become a global leader in extraction but not into wealth creation,” he stated.
He argued that foreign dominance is not the reason the country has failed to translate its natural resource wealth into economic prosperity.
According to him, the country’s local economic weakness has rather created room for foreign dominance.
“But guess what, this is not the disease all these is the symptom, foreign dominance is not the disease, that is not it.
“Nobody imposes foreign dominance; it is invited by local weakness,” he said, urging Ghanaians to confront underlying systemic issues rather than attributing challenges solely to external actors.
Mr. Jackson pointed to the country’s capital constraints as a critical factor undermining development.
He highlighted that despite Ghana having approximately GH¢60 billion in pension funds, very little of this capital is channelled into productive sectors of the economy.
“We should hold our heads high because nobody is imposing it on us, it is the fact that we are weak that is why somebody can take over. Just look at the capital deficit, we have GHC60 billion of pension funds, none of it goes to the productive sector,” he added.
He criticised the current structure governing pension fund investments, noting that excessive safeguarding of contributors’ funds has limited the ability of these funds to support national development.
The Dalex Finance CEO further observed that, unlike Ghana, many countries strategically deploy pension funds as instruments for economic growth, investing in infrastructure, industry, and other productive ventures.
