The government has approved the establishment of two new cashew processing factories in the Bono and Bono East regions as part of a wider drive to expand exports, create jobs, and strengthen Ghana’s industrial sector.
Speaking in Parliament, Madam Elizabeth Ofosu-Adjare, Minister for Trade, Agribusiness and Industry, outlined the government’s plans to revitalise key industrial assets, including the Komenda Sugar Factory, and implement policies aimed at positioning Ghana as a competitive manufacturing hub in West Africa.
Commissioned in 2016, the Komenda Sugar Factory has the capacity to process 1,250 metric tonnes of sugarcane daily, but years of technical and financial challenges have limited its operations.
The Minister said her ministry has set up an Interim Management Committee to assess the factory and chart a sustainable turnaround plan. A Transaction Advisor will be engaged to attract a strategic investor, with funds allocated in the 2026 Budget to support full operations.
Hon. Ofosu-Adjare also provided updates on the draft Ghana Automotive Component Manufacturing Development Policy, a key element of the Industrial Transformation Agenda.
The policy aims to attract investment into vehicle component manufacturing, strengthen standards, develop technical skills, and integrate local enterprises into regional and global value chains under the African Continental Free Trade Area. Discussions with the Finance Ministry are planned to finalise proposed incentives before submission to Cabinet.
The Minister highlighted other ongoing initiatives to stimulate domestic production and boost exports. These include the distribution of over 211,000 coconut seedlings to farmers, advisory support to 850 micro, small and medium enterprises (MSMEs), extension of the export proceeds repatriation period from 60 to 120 days, and the deployment of a single-window export platform by the Ghana Free Zones Authority. Certification and inspection systems by the Ghana Standards Authority have also been strengthened to enhance product competitiveness.
Under the “Feed the Industry” initiative, agriculture and agro-processing are being integrated to ensure industries have reliable access to raw materials.
The Accelerated Export Development Advisory Committee, chaired by President John Dramani Mahama, will provide strategic guidance for value addition and economic diversification under the 24-Hour+ Economy policy.
The Ministry is also pursuing the establishment of three new garment factories through public-private partnerships and continues efforts to revitalise industrial assets nationwide.
Madam Ofosu-Adjare said these steps reflect the government’s commitment to building a resilient, inclusive, and export-driven economy that generates jobs, strengthens local industry, and positions Ghana as a leading industrial hub in Africa.
