In a move to fortify the nation’s industrial base, the government has given the green light for the construction of two new cashew processing facilities in the Bono and Bono East Regions. The approval, announced by the Minister for Trade, Agribusiness and Industry, Hon. Lawyer Elizabeth Ofosu-Adjare, forms a key part of a broader strategy to pivot the economy toward export-led growth.
Addressing Parliament on Tuesday, the Minister outlined a multi-pronged agenda that includes the resuscitation of dormant state assets, the expansion of manufactured exports, and a concerted effort to integrate Ghanaian businesses into continental supply chains.
A major highlight of the update was the government’s renewed commitment to reviving the long-stalled Komenda Sugar Factory. Commissioned in 2016, the facility, which boasts the capacity to process 1,250 metric tonnes of sugarcane daily, has remained largely idle due to a combination of technical and financial hurdles. Hon. Ofosu-Adjare disclosed that following stakeholder engagements with traditional leaders and local farmers, an Interim Management Committee has been formed to chart a sustainable path forward for the factory. With funds allocated in the 2026 Budget to support its operationalisation, the ministry is now moving to engage a Transaction Advisor to secure a strategic investor for the plant.
In a parallel move to modernise the manufacturing sector, the Minister provided an update on the draft Ghana Automotive Component Manufacturing Development Policy. Designed to attract foreign direct investment and build local technical capacity, the policy aims to position Ghana as a competitive hub for vehicle parts manufacturing. Hon. Ofosu-Adjare noted that consultations are actively underway with the Minister for Finance, Hon. Cassiel Ato Forson, to finalise incentive packages before the policy is submitted to Cabinet.
Under the government’s Accelerated Export Development Programme (AEDP), the Minister reported tangible progress in supporting small businesses and farmers. Key interventions include the distribution of over 211,000 coconut seedlings to farmers, advisory services for 850 micro, small, and medium-sized enterprises (MSMEs), and a significant policy shift that extends the repatriation period for export proceeds from 60 to 120 days in collaboration with the Bank of Ghana. Additionally, the Ghana Free Zones Authority is rolling out a single-window export platform, while the Ghana Standards Authority is strengthening certification systems to enhance the competitiveness of Ghanaian products abroad.
Hon. Ofosu-Adjare also highlighted the “Feed the Industry” initiative under the Ghana FIRST programme, which seeks to secure a reliable supply of raw materials for local agro-processors. Furthermore, she announced that the Accelerated Export Development Advisory Committee, chaired by President John Dramani Mahama, will provide high-level strategic direction to align value-addition efforts with the broader 24-Hour+ Economy policy.
Beyond the agricultural and automotive sectors, the Ministry is pursuing the establishment of three new garment factories through Public-Private Partnerships. These efforts are part of a wider plan to revitalise key industrial assets across the country to stimulate production and create sustainable employment.
“In reaffirming Government’s determination to build a resilient, inclusive, and export-driven economy,” the Minister stated, the goal is to strengthen local industry and secure Ghana’s position as a leading industrial hub on the African continent.
