Lakpleku, Ghana, 20 February; President of the Republic of Ghana, H.E. John Dramani Mahama, has reaffirmed the government’s commitment to industrial transformation, stating that the country is deliberately shifting from exporting raw materials to producing and exporting finished and semi-finished products.
According to the President, this strategic move is part of a broader effort to strengthen Ghana’s manufacturing base while reducing dependence on imports and maximizing value from local resources.
Speaking at the commissioning ceremony of the B5 Plus Steel Ball Mill and Section Mill manufacturing facility on Friday, February 20, President Mahama emphasized that the government’s ambitious infrastructure drive would significantly increase demand for locally produced steel.
“We are moving up the value chain by exporting finished and semi-finished products, not raw scrap. Under the Big Push infrastructure program, government is investing heavily in roads and highways, railway modernization, bridges and interchanges, energy transmission lines, affordable housing and industrial parks. All these I have mentioned require iron and steel”.
He explained that developing a strong domestic steel industry would enable Ghana not only to meet its own infrastructure needs but also to supply steel to neighbouring countries across West Africa.
“Africa is projected to require over $100 billion annually in infrastructure development. West Africa alone faces significant infrastructure deficits If Ghana develops a strong steel base, we will not only build our own roads and bridges, we will also supply steel to the whole sub-region. This is how infrastructure becomes industrial strategy” he stated.
President Mahama also revealed that B5 Plus Group is among the first companies expected to register under the government’s flagship 24-Hour Economy initiative, which he described as particularly beneficial for energy-intensive industries such as steel manufacturing.
“The 24-hour economy program is particularly relevant to energy-intensive industries such as steel manufacturing. I had the honor and privilege yesterday to sign the 24-hour authority bill into law And I know that B5 Plus Group is one of the first companies that will register under the 24-hour economy initiative. Steel production benefits from continuous operation to reduce energy wastage, improve furnace efficiency, lower unit production costs and maximize asset utilization. With dedicated industrial tariff reforms, improved grid stability and expanding domestic gas supply, manufacturing can operate competitively beyond the traditional hours” he said.
He noted that the government’s allocation of GH¢110 million in the 2026 budget to operationalize the 24-Hour Economy programme demonstrates its seriousness in supporting industry and job creation.
“The allocation of 110 million Ghana cedis in the 2026 budget to operationalize the 24-hour initiative program reflects our seriousness. When factories run three shifts instead of one, employment rises, productivity increases and exports expand. We have been engaged in fiscal reform in order to support industry and business” he said.
President Mahama further highlighted fiscal measures introduced in the 2026 budget to support manufacturers, including the removal and adjustment of certain taxes to reduce operational costs and improve competitiveness.
“In the 2026 budget, we have introduced measures that directly benefit manufacturers. We abolished the COVID-19 health recovery levy, We reduced the effective batch rate from 21.9% to 20%, We have introduced digital VAT monitoring systems and we are reviewing the income tax, customs and excise regimes. Predictable tax policies lower uncertainty, they lower compliance friction and reduce operational costs. Digital systems reduce leakages and unfair competition, Industrial investors must compete on productivity and not navigate through unpredictability” he said.
The President stressed that Ghana’s expanding mining sector would further increase the strategic importance of domestic steel production, particularly with government policies promoting local content and mineral processing.
“Ghana’s mining sector, gold, bauxite, manganese and lithium requires significant steel inputs for crushing and grinding, structural reinforcement, heavy equipment maintenance and mineral processing. With expanding mineral processing initiatives and our commitment to local content in mining, domestic steel manufacturing will become strategically important. We must integrate mining and metal processing into a coordinated industrial ecosystem” he said.
President Mahama also underscored the broader economic benefits of industrialization, particularly in skills development, employment creation, and technology transfer.
“At full capacity, facilities such as this we are going to commission today create direct factory employment, technical and engineering jobs, transport and logistics employment, SME supply chain opportunities, apprenticeship and vocational training opportunities. Industrialization deepens skills development, it creates methodologists, mechanical engineers, industrial technicians, quality control specialists and plant managers. That competence is what transforms a nation from an importer to a producer” he said.
He added that as host of the Secretariat of the African Continental Free Trade Area, Ghana has a responsibility to demonstrate that regional economic integration can produce tangible industrial outcomes.
“As host of the African Continental Free Trade Area Secretariat, Ghana has a responsibility to demonstrate that continental integration can deliver tangible results. Regional trade must move beyond speeches and communiques, Regional trade must translate into factories exporting to neighbouring countries and B5 Plus is a practical demonstration of that effort” he said.
President Mahama commended the board, management, and staff of B5 Plus for their confidence and dedication in advancing Ghana’s industrial potential, while also acknowledging the support of traditional authorities and residents of Lakpleku.
“Ladies and gentlemen, industrial transformation does not happen overnight It is a process and it requires strategic policy, a stable macroeconomic economy, private sector confidence, infrastructure investments, skilled labour and regional integration. So today’s commissioning signals that Ghana is moving on the right path. Let me commend the board, management and especially the staff of B5 Plus for your confidence and hard work in advancing this enterprise and raising Ghana’s industrial potential. I also want to salute the traditional authorities and people of Lakpleku for welcoming industrial growth in your community It is a positive for industrial expansion to continue to take place because it provides employment for our young people in the area. And so I urge those who are litigating the land behind here to resolve the issue quickly so that B5 Plus can continue with their expansion” he said.
The President concluded with a prayer for the success of the investment and formally declared the Phase Two expansion commissioned.
“And so on behalf of the government and people of Ghana, it is my honour to declare the second phase expansion of the B5 Plus steel manufacturing facility duly commissioned. May this investment strengthen Ghana’s economy, deepen our regional trade and contribute to Africa’s industrial renaissance. May God bless B5 Plus and may God bless our homeland, Ghana. I thank you” he concluded.
LISTEN TO PRESIDENT MAHAMA IN THE AUDIO BELOW:
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/Ahotoronline.com | Ghana 🇬🇭