Seize GH?7bn ‘Wednesday Fugu’ economy – UPSA VC urges youth

By Ernest Bako WUBONTO

The Vice-Chancellor of the University of Professional Studies, Accra (UPSA), Professor John Kwaku Mensah Mawutor, has challenged Ghanaian youth to capitalise on what he describes as a potential GH?7billion annual market emerging from government’s “Wear Fugu Wednesday” directive.

Speaking at the Youth Economic Forum (YEF) 2026 held at UPSA under the theme ‘From Potential to Prosperity: Youth Driving the New Economy’, he urged young entrepreneurs to treat public policy initiatives as commercial opportunities rather than mere administrative pronouncements.

Prof. Mawutor cited the Ministry of Tourism, Culture and Creative Arts’ directive that encourages wearing traditional fugu (smock) every Wednesday as a case study in policy-driven enterprise. According to him, what began as a cultural expression of identity has evolved into a structured demand capable of transforming the textile and fashion value chain.

He projected that if just 50 percent of Ghana’s estimated 13 million active workforce purchased two fugu annually at an average price of GH?300 each, the market could generate about GH?7billion every year. “If you do not seize this opportunity, others will. This is not just a policy; it is a big business opportunity,” he said.

Even under a conservative scenario, he noted, the more than one million public sector workers on government payroll alone could create guaranteed demand for at least two million pieces annually if compliance becomes widespread.

Beyond revenue, the Vice-Chancellor emphasised the job-creation potential across the fugu value chain – from cotton production and weaving to garment manufacturing, logistics and retail – estimating it could support over 800,000 jobs if properly structured.

Drawing parallels with the Friday Wear policy introduced during the tenure of former President John Agyekum Kufuor, which boosted local textiles, Prof. Mawutor said a similar transformation is possible. He argued that sustained local demand could reduce reliance on imported fabrics and support currency stability.

Prof. Mawutor reiterated that entrepreneurship remains central to Ghana’s economic future, announcing UPSA has made entrepreneurship a compulsory graduation requirement. He stressed that funding constraints are often overstated, urging youth to focus on refining viable ideas capable of attracting institutional backing. He cited Ecobank Ghana as one of the financial institutions with capital available for bankable ventures.

Combatting the ‘corruption cancer’

In a candid assessment of the prevailing social climate, the Vice-Chancellor expressed concern over what he described as declining integrity among the youth.

“Students and society are becoming more corrupt. As a university, we identified this gap and decided to instil ethical values. This led to the introduction of mandatory courses in ‘Fundamentals of Ethics’, alongside entrepreneurship,” he told stakeholders.

He emphasised that although young people are driving innovation in artificial intelligence (AI), fintech and clean energy, such advancements must be anchored in structured entrepreneurial pathways which prioritise longevity and sustainability over quick, unethical gains.

The forum was organised by Business and Financial Times (B&FT) in partnership with Ecobank Ghana, UPSA and the Moreshet Foundation. It aims to provide a platform for competition, dialogue and training, enabling young people to showcase ideas while engaging policymakers and industry leaders on the future of the nation’s economy.

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