Vice President Jane Naana Opoku-Agyemang has placed import substitution at the centre of Ghana’s economic recovery strategy, backing renewed efforts to source raw materials locally as government seeks to lift industrial output, conserve foreign exchange and generate employment across the manufacturing value chain.
During a working visit to the Ministry of Trade, Agribusiness and Industry, the Vice President assured officials of sustained political support to deepen local production and reduce Ghana’s dependence on imported inputs—an issue policymakers increasingly view as both a balance-of-payments risk and a drag on job creation.
The visit forms part of broader consultations with key economic ministries aimed at identifying operational constraints and improving coordination across government. Professor Opoku-Agyemang urged institutions to break down silos and align policies around production, trade and employment outcomes.
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Cutting Imports to Stabilise Supply Chains
The Vice President highlighted the economic cost of importing raw materials that could be produced domestically, pointing to initiatives to expand rubber cultivation for tyre manufacturing and revive the sugar value chain as practical examples of how Ghana can cut import bills while strengthening industrial resilience.
By sourcing inputs locally, officials say Ghana can reduce foreign exchange pressures, improve supply chain reliability and lower production costs for manufacturers operating below capacity.
She described the renewed emphasis on Made-in-Ghana goods as a competitiveness strategy rather than a protectionist one, arguing that local sourcing is essential to building efficient, scalable and resilient industries.
“If we all come on board and work together, we can build a very productive country and make a real difference,” the Vice President said.
Manufacturing and the Jobs Agenda
The import substitution drive is also being framed explicitly as a jobs strategy. Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare said many factories continue to operate below capacity due to inconsistent access to raw materials, limiting output and employment.
To address this, the Ministry is pursuing backward integration, land acquisition for commercial farming and targeted support for agro-processing, aimed at keeping factories running consistently and expanding payrolls.
She outlined complementary reforms to improve the operating environment, including measures to reduce the cost of doing business, enhance market access and support exporters. These include extending the repatriation period for export proceeds from 60 to 120 days, deeper engagement under the African Continental Free Trade Area (AfCFTA) and increased participation in international trade fairs.
Industrial Revival Projects
The Minister disclosed that land has been secured and farmer engagements completed to support the revival of the Komenda Sugar Factory, which government expects to operationalise in 2026. In parallel, plans are advancing for new garment factories and agro-processing plants, projects projected to create thousands of jobs, particularly for women and young people.
“Your visit has encouraged us greatly. It tells us that our work matters and that we are being supported at the highest level,” Ofosu-Adjare said, pledging stronger execution.
Professor Opoku-Agyemang also committed to engaging the Minister of Finance to fast-track approval of incentives and policies needed to attract investment and scale production—steps seen as critical to improving factory utilisation and sustaining job creation.
For investors and manufacturers, the message is clear: import substitution is no longer just an industrial slogan, but a central pillar of Ghana’s growth and employment strategy.
Source: Accra Street Journal
Last Updated on December 19, 2025 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
