Economic Diversification: Ghanaian English teachers for Colombia

 

Colombian Vice President Francia Elena Márquez Mina, and the Ghanaian Vice President Prof. Jane Naana Opoku-Agyemang 

The Ghanaian government is researching a bilateral agreement with the Republic of Colombia that would allow Ghanaian teachers to visit Colombia to assist English instruction and, more significantly, to boost trade for economic advancement. During a courtesy call on the presidency by Colombian Vice President Francia Elena Márquez Mina, Vice President Prof. Jane Naana Opoku-Agyemang disclosed the project.

Francia Elena Márquez Mina, a politician, attorney, and human rights advocate who became well-known both locally and internationally for her support of social justice and the environment, especially in the fight against illicit gold mining in her community of La Toma, was in Ghana for a three-day visit to enhance collaboration between the two nations to increase trade, investment, and business through cultural diversity.

 

Ghana's economy is still largely dependent on raw materials, with gold, oil, and cocoa making up a sizable share of its exports. Together, gold and oil account for almost 70% of export revenue. Cocoa, on the other hand, adds 11%. This reliance on basic commodities contributes to a lack of broad-based diversification and leaves the economy susceptible to changes in global prices.

 

The country has made significant strides in digitalization and mobile communication; however, corruption, wasteful public spending, inadequate infrastructure, and a precarious banking sector with a high percentage of non-performing loans make it difficult for the country to expand its manufacturing sector. A 50% depreciation of the cedi in 2022 and a rapid increase in inflation that peaked at 40.3% in 2023 are only two examples.

 

High public debt (estimated at 79.5% of GDP in 2025), a sizable public deficit, and a current account surplus driven by high commodity prices but threatened by rising imports due to recovering domestic demand were among the structural issues the nation faced until the Mahama administration took office. Colombia, on the other hand, has adopted a more varied economic strategy that places a greater focus on industry, services, and agricultural exports.

Colombia's economy is well-known for its comparatively sophisticated financial sector, expanding hubs for technology and innovation, and a more varied export base than many of its Latin American counterparts. The nation has made progress in lowering its reliance on raw materials by investing in infrastructure and value-added industries.

 

Long-term diversification initiatives are supported by Colombia's stronger institutional frameworks and more stable macroeconomic climate. However, Colombia, like Ghana, struggles with subnational and regional inequality, with urban hubs like Bogotá and Medellín having a more vibrant economy than rural and isolated places. These geographical differences might restrict the scope of diversification programs and impede inclusive growth.

 

Ghana's situation after Akufo-Addo is more dire because of its severe debt and fiscal imbalances; therefore, it makes sense if the Mahama administration focuses on other nations with economic prospects, as both nations demonstrate the significance of addressing structural weaknesses, such as governance, infrastructure, and financial market development, to achieve sustainable economic diversification.

 

International employment boosts productivity, creates jobs, and encourages inclusive growth, all of which have a favorable economic impact on nations. Because trade integration increases demand, allows businesses to work closer to full capacity, and makes it easier to access new markets and technology, it has significantly boosted employment, especially in developing economies.

 

After the worst and most corrupt government, Ghana's economy is still rebuilding.  Prof. Jane Naana Opoku-Agyemang stated, "Our two countries have signed agreements and are undertaking joint projects in several areas, including immigration, agriculture, political consultations, air services, education, technical cooperation, sports, and youth development."

 

Prof. Opoku-Agyemang also emphasized Ghana's new prospects and Colombia's worldwide advantages, since Ghana acknowledges Colombia's proficiency in agro-processing, creative industries, and biodiversity-driven innovation. Sending English teachers from Ghana to Colombia will, in my opinion, improve both the educational cooperation and the country's economy.