1 week Ago By News Ghana
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/herbal-medicine-could-reset-ghanas-economy-prof-nyarkotey/In Accra on April 7, 2025, Prof Raphael Nyarkotey Obu, president of Nyarkotey University College of Holistic Medicine & Technology, delivered the keynote at the graduation of Chartered Economists and Health Economists at the British Council.
He argued that Ghana’s rich biodiversity offers an untapped economic resource capable of generating billions in revenue, creating jobs and stabilizing the cedi by developing the herbal medicine sector .Speaking on “Resetting Ghana’s Economy Through Herbal Medicine Development,” Prof Nyarkotey noted that over 2,000 indigenous plants have proven therapeutic value yet remain undervalued and stigmatized. Drawing on personal experiences of professional bias, he stressed that strategic investment in just four species hibiscus, neem, moringa and dandelion could yield more than US $10.
2 billion in export revenue and address challenges such as unemployment, import dependency and environmental pollution .He highlighted moringa’s capacity to purify water contaminated by illegal mining; neem and hibiscus’s established global markets; and the growing demand for dandelion in herbal therapies. To harness these opportunities, he proposed elevating the Traditional Medicine Practice Council to an authority empowered to regulate, certify and promote herbal products at home and abroad .
Quoting international precedents, Prof Nyarkotey pointed to China, India and Vanuatu nations earning billions from their herbal sectors as models for Ghana to emulate. “Herbal medicine is Ghana’s green gold,” he declared, urging stakeholders not to wait for external validation but to invest in indigenous knowledge and build economic resilience from within .His vision resonated with dignitaries from the Global Academy of Finance and Management, the International Certification Center, academic faculty and industry leaders.
The graduating economists were challenged to champion innovative solutions that bridge health, economics and traditional practice in national development .The address comes at a time when global markets are increasingly receptive to natural remedies and wellness products. Ghana’s herbal sector, long confined to informal channels, now stands at the threshold of formalization and scale‐up.
Regulatory reform, quality assurance and integration into the mainstream economy are critical next steps to unlock the sector’s full potential.By leveraging its biodiversity and elevating regulatory institutions, Ghana can position itself as a leading exporter of herbal medicines. Such a transformation would not only diversify the economy but also promote sustainable use of natural resources, foster medical tourism and strengthen rural livelihoods.
This call to action underscores the growing recognition that economic development and indigenous knowledge systems are deeply intertwined. As Ghana seeks new drivers of growth, the herbal medicine industry offers a pathway to resilience that honors cultural heritage while meeting contemporary market demands. News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.
com.gh/herbal-medicine-could-reset-ghanas-economy-prof-nyarkotey/.
