President John Dramani Mahama has launched the Ghana National Research Fund, describing it as a key intervention to bridge long-standing financing gaps in research and strengthen Ghana’s drive toward industrialisation and economic transformation.

Speaking at the launch on Tuesday, June 16, the President said the initiative forms part of government’s broader “resetting agenda” and its push for accelerated industrial development.

He explained that the Fund is designed to provide sustainable and predictable financing for research, stressing that the development of local knowledge systems is critical to national progress.

According to him, the initiative builds on a vision that has evolved since Ghana’s independence, and reflects the enduring belief that science, technology, and research are central to national self-reliance.

“Today, Ghana affirms that research can no longer be treated as a peripheral activity. It must become one of the engines that drive our economic growth, our social progress, and our national competitiveness,” he said.

President Mahama traced the philosophy behind the Fund to the country’s founding leader, Osagyefo Dr. Kwame Nkrumah, noting that he recognised early the importance of science, technology, and research in driving economic transformation.

He said Nkrumah understood that industrialisation required more than resource extraction, stressing the need for Ghana to develop its own technologies and solutions to local challenges.

The President also acknowledged the contributions of Professor John Evans Atta-Mills who he said strongly advocated for science, technology, innovation, and research as a core pillar of national development.

He noted that although the idea had long existed, what had been missing was a sustainable financing framework, which has now been provided through Act 1056 of 2020, acknowledging former President Nana Akufo-Addo for facilitating its passage and assent of the law.

The President observed that major global advancements in medicine, telecommunications, artificial intelligence, biotechnology, renewable energy, and manufacturing have all been driven by sustained investment in research.

He cautioned that Ghana cannot achieve industrial transformation while under-investing in knowledge creation, noting that local researchers have long operated under severe financial constraints despite producing globally competitive work.

According to the president, the Ghana National Research Fund is intended to address these structural challenges and support national development priorities, including the 24-Hour Economy initiative and the Accelerated Export Development Programme.