By Joseph BENSON & Fredrick AGBOMA(PhD)
This article is the first in a five-part series titled “Tariffs, Trade, and Transformation: Playing the Infinite Game of African Enterprise.” The series will explore intra-African collaboration, entrepreneurial innovation, value creation strategies, and long-term economic resilience.
In early 2025, Ghana faced an economic jolt as the United States imposed a sudden 10% tariff on Ghanaian exports. This policy change sent ripples through key sectors such as cocoa processing and textiles, undercutting competitiveness and jeopardising American market access.
For a country deeply invested in industrialisation and value addition, the tariff presented both a setback and an opportunity.
Rather than accepting this disruption as a finite loss in a zero-sum game, Ghana has the chance to view it through a different lens—as a strategic turning point.
By adopting an infinite-game mindset, investing in entrepreneurship, leveraging policy tools, and expanding regional integration, Ghana can build a more resilient economic future.
Finite vs. Infinite Games: A Shift in Mindset
James Carse’s theory of finite and infinite games offers a powerful framework. Finite games are competitive and end with winners and losers, while infinite games prioritize endurance and continuous improvement.
The U.S. tariff reflects a finite strategy—a short-term policy for immediate economic gain. Ghana’s best response lies in the infinite approach: nurturing long-term sustainability, diversifying markets, and rethinking value creation.
Instead of scrambling to recapture lost U.S. market share, Ghana can ask: How can this disruption spur structural reform? How can the economy become less vulnerable to external shocks? This mindset turns adversity into an innovation trigger, pushing for deep-rooted economic renewal.
Strengthening Entrepreneurial Resilience
Ghana’s entrepreneurial ecosystem plays a critical role in its infinite-game strategy. With over a quarter of its adult population engaged in early-stage entrepreneurship, there is a strong foundation for resilience. Yet, this potential requires deliberate cultivation.
Policies supporting entrepreneurship education, access to finance, and innovation hubs are already taking shape. Initiatives such as the National Entrepreneurship and Innovation Programme (NEIP) and integration of entrepreneurship into school curricula have begun to transform how young Ghanaians view enterprise. These initiatives develop critical skills that allow entrepreneurs to pivot quickly and pursue new market opportunities.
Infrastructure improvements, regulatory reforms, and targeted financing further help entrepreneurs weather global disruptions. For example, textile manufacturers impacted by U.S. tariffs could seek new markets in Europe, Asia, or within Africa, using digital platforms to expand reach. Cocoa processors could reposition products for niche markets, leveraging Ghana’s global reputation for quality.
Breaking Free from the Global Value Chain Trap
Global trade systems often trap African countries like Ghana in low-value roles as raw material exporters. Acknowledged by economists and global leaders, this imbalance leaves such nations vulnerable to external policy changes.
Ghana must therefore climb the value chain through intensified local processing, advanced manufacturing, and technology-driven industries. Supporting small and medium-sized enterprises (SMEs) with tax breaks, export facilitation, and innovation funding can boost domestic production capacity.
Investment in research and development is also crucial. By innovating high-quality, differentiated products, Ghanaian firms can command premium prices, compete in global markets, and reduce dependence on commodity exports. This shift increases resilience and long-term economic sustainability.
Leveraging Regional Markets and AfCFTA
The African Continental Free Trade Area (AfCFTA) provides a strategic alternative to volatile global markets. With access to a market of over 1.3 billion people, Ghana can expand its export focus beyond traditional partners. Former President John Mahama aptly noted that AfCFTA offers Ghanaian businesses a new frontier for production and trade.
Although challenges exist in implementation, Ghana can lead the charge by investing in regional trade infrastructure, digitising customs systems, and harmonising regulations. Practical partnerships with neighbouring countries can establish intra-African value chains—for example, exporting processed cocoa to Nigeria or supplying auto components to South Africa.
Regional collaboration can also extend to innovation, capital, and workforce development. Joint ventures and cross-border investments foster a robust continental economy, reducing reliance on distant and unpredictable markets.
Strategic Path Forward
To navigate this economic inflection point successfully, Ghana must pursue a cohesive strategy. Export market diversification is essential, reducing reliance on a limited set of global buyers. Simultaneously, the country must prioritise value addition through intensified investment in local processing, advanced manufacturing, and industrial capacity building.
Education is another pillar. Expanding entrepreneurship education and innovation programmes at all levels prepares citizens to adapt to economic shocks and seize new opportunities. By supporting incubators, accelerators, and skill-building initiatives, Ghana can unlock a new wave of economic contributors.
SMEs, the backbone of the Ghanaian economy, deserve targeted support. Providing accessible credit, simplifying regulations, and offering technical assistance enables these businesses to grow, adapt, and integrate into global and regional markets.
At the regional level, Ghana should deepen its commitment to AfCFTA by investing in trade infrastructure and leading efforts to streamline cross-border commerce. And internationally, Ghana must balance self-reliance with strategic diplomacy. Advocating for equitable trade agreements and forming coalitions with similarly affected countries will enhance its negotiating strength.
Learning from Others
Global case studies reinforce the value of strategic resilience. Ethiopia’s export plunge following AGOA suspension underscores the dangers of market over-reliance. In contrast, South Korea and Malaysia illustrate the long-term benefits of investing in human capital, industrialisation, and regional cooperation.
Ghana can follow a similar path, not by mimicking, but by adapting these principles to its context. The goal is to transform episodic setbacks into systemic strengths.
Conclusion: A New Game Begins
The imposition of U.S. tariffs marked a disruptive chapter in Ghana’s trade story, but it need not define the country’s future. By embracing an infinite-game mindset, Ghana can shift from reactive vulnerability to proactive leadership. Through export diversification, strengthened entrepreneurship, regional collaboration, and strategic diplomacy, the nation can build an economy that not only survives global shocks but thrives beyond them.
In this new game, resilience, innovation, and long-term vision will determine Ghana’s trajectory. The challenge has been issued; the opportunity awaits.
Coming Next
In the next article of the series, “Made in Africa – Turning Inward to Look Outward,” we explore how Ghana and its African peers can strategically harness the African Continental Free Trade Area to drive intra-African commerce, deepen industrial linkages, and build a new economic narrative from within the continent
Dr. Agboma is a senior academic at Liverpool John Moores University and a scholar-practitioner in entrepreneurship and development policy. He recently completed a CODISERA Fellowship on education, enterprise, and regional development.
Joseph is an entrepreneur, a business development consultant, and philanthropist based in the USA but globally connected with world renowned companies. Passionate about education and a founder of diverse businesses globally.
