Lakpleku, Ghana, 20 February: President of the Republic of Ghana, H.E. John Dramani Mahama, has commissioned the B5 Plus Ltd Steel Ball Mill and Section Mill (SBMS) manufacturing plant at Lakplekuin the Ningo-Prampram Constituency of the Greater Accra Region.
The new facility, developed by B5 Plus Ltd, is aimed at boosting local steel production and supporting Ghana’s broader industrialisation drive. Company officials say the investment aligns with efforts to strengthen domestic manufacturing capacity and reduce reliance on imports as part of Ghana’s industrial transformation agenda.
Speaking at the commissioning ceremony on Friday, February 20, President Mahama described the Phase Two expansion of the factory as a significant milestone in Ghana’s economic restructuring efforts, emphasising the country’s transition toward value-added industrial production.
“The Phase 2 expansion of B5 Plus is not an isolated investment It is part of a broader structural shift in our economy from dependence on raw material exports to value-added industrial production” he said.
The President underscored the importance of steel production as a key measure of industrial growth, noting that increased consumption often correlates with infrastructure development and economic expansion.
“Steel consumption is a strong indicator of industrial development. Across emerging economies, per capita steel consumption rises in tandem with infrastructural growth, urbanization and industrial expansion” he stated.
According to President Mahama, Ghana’s annual steel demand exceeds 1.2 million metric tons, largely driven by construction, mining, manufacturing, and energy infrastructure projects. However, he noted that heavy dependence on imports has historically placed considerable pressure on the country’s foreign exchange reserves.
“Ghana’s annual steel demand is estimated at over 1.2 million metric tons driven mainly by construction, energy infrastructure, mining and manufacturing. Historically, a significant portion of this demand has been met through importation and which have placed pressure on our foreign exchange reserves” he said.
He explained that expanding local production capacity through facilities such as the B5 Plus plant would help reduce imports, improve supply chain stability, and generate substantial foreign exchange savings for the country.
“The expansion of this facility strengthens domestic capacity to substitute those imports to save us foreign exchange, to improve our trade balance, to stabilize our supply chains and to reduce exposure to global price volatility. It will reduce steel imports by even 20-30% annually. The foreign exchange savings alone could amount to hundreds of millions of dollars. This is what industrial sovereignty is about” he said.
President Mahama further highlighted Ghana’s strategic position within West Africa, citing political stability, infrastructure, and trade opportunities under the African Continental Free Trade Areaframework.
“Ladies and gentlemen, Ghana is uniquely positioned in West Africa. We are politically stable We host the secretariat of the African Continental Free Trade Area We have deep water ports in Tema and Takoradi. We have an expanding energy infrastructure So this creates a strategic opportunity for domestic and foreign investors Under the African Continental Free Trade Area, a market of 1.4 billion people with a combined GDP exceeding 3 trillion is gradually opening up for intra-African trade” he said.
The President expressed optimism that steel products manufactured at the Ningo facility would serve markets across the sub-region, particularly within ECOWAS, positioning Ghana as a competitive manufacturing hub.
“Steel products manufactured here in Ningo can serve the ECOWAS construction markets, the Sahelian infrastructure projects mining operations across West Africa, cement and mineral processing industries across the whole sub-region. Instead of importing steel from Asia or Europe, West Africa can source competitively from Ghana’s manufacture” he said.
LISTEN TO PRESIDENT MAHAMA IN THE AUDIO BELOW:
The commissioning of the plant is expected to create jobs, stimulate local supply chains, and reinforce Ghana’s ambition to become a leading industrial and manufacturing centre in West Africa.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/Ahotoronline.com | Ghana 🇬🇭