2 weeks Ago By News Ghana
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ghana-launches-export-focused-industrial-plan-to-boost-economic-transformation/Ghana’s Trade Minister, Elizabeth Ofosu-Adjare, has unveiled a sweeping industrial and export strategy aimed at accelerating economic growth through agribusiness innovation, regulatory reforms, and global trade partnerships.
Speaking at the 2025 Kwahu Business Forum under the theme “The Future of Business: The Role of the Financial Sector,” the minister outlined plans to position Ghana as a regional hub for value-added production and inclusive development.Central to the strategy is a Business Regulatory Reform Program designed to streamline bureaucratic processes across 50 public and private institutions.A proposed Business Regulatory Reforms Commission Bill would mandate stakeholder consultations and regulatory impact assessments to improve the ease of doing business.
“We are aligning financial systems with national priorities to drive entrepreneurship and industrialization,” Ofosu-Adjare stated, emphasizing collaboration with banks and investors to unlock capital for small and medium enterprises.The government also announced an Accelerated Export Development Programme targeting garments, processed foods, and pharmaceuticals.A trade delegation to China is planned to forge business-to-business partnerships, supported by financial tools such as export credit guarantees and low-interest loans through agencies like the Ghana Export Promotion Authority and EXIM Bank.
“Now is the time for local businesses to seize global opportunities,” the minister urged.Agribusiness forms the backbone of the industrial agenda, with a “Feed the Industry” initiative linking contract farmers to processing zones. The Afram Plains Agro-Industrial Zone will focus on cassava, maize, and soybean value chains, while three new garment factories expected to create 27,000 jobs under a 24-hour economy model aim to capitalize on export demand.
Additional policies to boost pharmaceutical and automotive component manufacturing will target hubs like Suame Magazine, a historic informal engineering enclave.Inclusive development measures include dedicated funding and training for women and youth-led enterprises, aligning with broader goals to reduce unemployment and diversify exports. Critics, however, note persistent challenges such as infrastructure gaps and access to affordable financing, which have hampered past industrialization drives.
Similar initiatives, like the 2019 National Industrial Revitalization Program, achieved mixed results due to implementation hurdles.Ofosu-Adjare’s plan echoes Ghana’s decades-long ambition to transition from raw material exports to processed goods, a vision articulated since the 1980s but hindered by inconsistent policy execution. With global markets increasingly prioritizing sustainable supply chains, analysts suggest Ghana’s agro-industrial focus could leverage growing demand for ethically sourced products if paired with robust enforcement of environmental and labor standards.
As the forum concluded, the minister invited stakeholders to explore partnerships during Easter networking events, reinforcing a call for private sector collaboration. “Let us build alliances that define Ghana’s economic future,” she said. The success of this agenda now hinges on bridging the gap between policy design and ground-level execution, a test past administrations have struggled to pass.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ghana-launches-export-focused-industrial-plan-to-boost-economic-transformation/.
