In a welcome development for consumers and builders across Ghana, steel manufacturers have publicly assured the nation that prices for steel products will remain stable and unchanged. This commitment comes amid several key government interventions, notably the recent stability of the Ghanaian Cedi, which has helped shield the industry from volatile exchange rate pressures.
The reassuring statement was delivered on Friday, January 23, 2026, during a high-level meeting at the Ministry’s Conference Room in Accra. There, the Minister for Trade, Agribusiness and Industry, Mrs. Elizabeth Ofosu-Adjare engaged directly with leading steel producers to discuss pressing sector issues and chart a path forward.
Speaking candidly to the press on behalf of the Association, Mr. Mike Thakwani, Chairman of B5 Plus LTD one of Ghana’s prominent steel firms emphasized that despite persistent challenges facing the industry, such as rising input costs and supply chain disruptprices would hold firm. “We are committed to the Ghanaian market and our consumers,” Thakwani stated, underscoring the industry’s resolve.
He went further, promising that steel products essential for construction, infrastructure projects, and manufacturing would continue to be readily available in markets nationwide, from bustling urban centres like Accra and Kumasi to regional hub. This availability is crucial at a time when Ghana is ramping up ambitious infrastructure initiatives under the government’s development agenda.
Thakwani also took the opportunity to reaffirm the steel sector’s unwavering commitment to supporting national government initiatives, including local content policies and economic recovery efforts. He expressed profound gratitude to Minister Ofosu-Adjare for her consistent cooperation and the sustained support provided to the sector over the years, which has helped navigate tough economic headwinds.
Minister’s Strong Endorsement and Pledge
In her address, Mrs. Elizabeth Ofosu-Adjare warmly commended the steel manufacturers for their pivotal contributions to Ghana’s national development and broader economic growth. She highlighted how the sector not only drives job creation employing thousands directly and indirectly but also bolsters key industries like real estate, automotive assembly, and public works, thereby fortifying the foundation of the Ghanaian economy.
The Minister detailed how the producers had engaged her office on a range of operational challenges, including high energy costs, import dependencies for raw materials like scrap metal and billets, and regulatory hurdles that inflate production expenses. These issues, if unaddressed, could strain affordability and supply in a market still recovering from global inflationary pressures.
Mrs. Ofosu-Adjare assured the gathering that the government had listened intently to these concerns and would implement the necessary steps to resolve them appropriately and expeditiously. “Your partnership is invaluable,” she remarked, expressing sincere gratitude for the sacrifices manufacturers continue to endure in prioritizing economic growth over short-term profits.
She closed by reaffirming the government’s ironclad commitment to collaborating closely with the industry. This partnership aims to foster sustained growth and development in Ghana’s steel sector, potentially unlocking new investments, enhancing local production capacities, and positioning the country as a regional leader in steel manufacturing.
This meeting signals a proactive stance from the Akufo-Addo administration in supporting critical industries, offering hope for price stability that could ease pressures on housing and infrastructure costs for ordinary Ghanaians.
Story by: Mercy Addai Turkson #ahotoronline.com