The Minister for Trade, Agribusiness and Industry, Hon. Elizabeth Ofosu-Adjare, has reiterated Government’s determination to revitalise Ghana’s industrial sector, expand exports, and position the country as a competitive manufacturing hub in West Africa.
Answering questions on the floor of Parliament on Tuesday, the Minister outlined decisive measures to restore operations at the Komenda Sugar Factory, commissioned in 2016 with the capacity to process 1,250 metric tonnes of sugarcane daily. She noted that despite its potential to create jobs and stimulate growth in the Central Region, technical and financial challenges had stalled its operations.
Hon. Ofosu-Adjare explained that upon assuming office, she engaged chiefs, farmers and stakeholders in Komenda, leading to the establishment of an Interim Management Committee to conduct a comprehensive assessment and develop a turnaround roadmap. She added that provisions have been made in the 2026 Budget to support the factory’s full operationalisation, with a Transaction Advisor set to attract a strategic investor.
The Minister also updated Parliament on the draft Ghana Automotive Component Manufacturing Development Policy, a key pillar of the Industrial Transformation Agenda. Designed to attract investment, strengthen standards, and integrate local enterprises into regional and global value chains under the African Continental Free Trade Area, the policy has been circulated to relevant ministries for input. Discussions with the Finance Minister, Hon. Cassiel Ato Forson, are expected to align incentives before submission to Cabinet.
Hon. Ofosu-Adjare emphasised that the policy presents a significant opportunity to deepen industrialisation, create skilled jobs, and position Ghana as West Africa’s automotive hub.
She further highlighted interventions under the Accelerated Export Development Programme, including:
- Distribution of over 211,000 coconut seedlings to farmers to diversify exports.
- Advisory support to 850 MSMEs to enhance competitiveness.
- Engagement with the Bank of Ghana to extend export proceeds repatriation from 60 to 120 days.
- Deployment of a single-window export platform by the Ghana Free Zones Authority.
- Strengthened certification and inspection systems by the Ghana Standards Authority.
The Minister also underscored the “Feed the Industry” initiative under Ghana FIRST, which integrates agriculture and agro-processing to ensure reliable raw material supply for local industries.
She revealed that Cabinet has approved the establishment of two new cashew factories in the Bono and Bono East regions, while three garment factories are being pursued through Public-Private Partnerships. These, she said, form part of efforts to boost production, create jobs, and build a resilient, inclusive, export-driven economy.
“The Accelerated Export Development Advisory Committee, chaired by H.E. President John Dramani Mahama, will provide strategic direction for value addition and economic diversification under the 24-Hour+ Economy policy,” Hon. Ofosu-Adjare stated.
She reaffirmed Government’s commitment to strengthening local industry and securing Ghana’s place as a competitive industrial hub in Africa.
Leave a Reply