By Leo Nelson
The Mahama administration is placing a hefty bet on value addition. With Cabinet’s approval of new processing facilities and a strategy to revive dormant state assets, the government is signalling an aggressive pivot from raw commodity exports to manufactured goods. The message to global markets is unambiguous: Ghana intends to process what it grows.
Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare took the parliamentary floor to unveil the strategy, framing it as the “heartbeat of the Ghana FIRST agenda.” The plan targets two immediate priorities: absorbing the surplus created by the recent raw cashew export ban and breathing life into the long-comatose Komenda Sugar Factory.
THE CASHEW CALCULATION
Two state-of-the-art cashew factories are to be established in the Bono and Bono East regions, designed to process the crop that can no longer be shipped raw. It is a classic import-substitution strategy with an export twist capturing the value that has historically accrued to processors in Vietnam and India. For farmers, the gamble is that domestic processors will pay reliably; for government, the challenge is ensuring they do.
KOMENDA’S SECOND COMING
The Komenda Sugar Factory has long been a graveyard of political ambition. With capacity to process 1,250 metric tonnes of sugarcane daily, the facility has sat idle for years, a monument to grand plans and poor execution. Ofosu-Adjare now promises a “turnaround plan” involving a Transaction Advisor and a strategic private-sector investor. Provisions have been made in the 2026 Budget, and consultations with local chiefs and farmers are underway.
Crucially, the revival is being integrated into the “Feed the Industry” initiative, designed to secure raw material supplies before production begins. It is a lesson learned from past failures: factories cannot run on promises alone.
THE COMPONENTS STRATEGY
Beyond agriculture, the administration is fine-tuning the Ghana Automotive Component Manufacturing Development Policy. The shift from mere assembly to component production is ambitious, requiring technical skills and capital that Ghana currently lacks. But with the African Continental Free Trade Area (AfCFTA) creating a potential continental market, the incentive to integrate into regional value chains is compelling. Finance Minister Cassiel Ato Forson is said to be working on competitive, sustainable incentives to attract investors.
THE EXPORT TIMETABLE
A quieter but significant victory for the private sector came from the Bank of Ghana, which has doubled the export proceeds repatriation period from 60 to 120 days. For manufacturers starved of working capital, the breathing room is transformative.
Under President Mahama’s direct chairmanship, the Accelerated Export Development Advisory Committee is now steering the 24-Hour+ Economy policy. Three new garment factories are planned through Public-Private Partnerships, alongside the cashew facilities. The Ghana Free Zones Authority is deploying a “single-window export platform,” while the Standards Authority strengthens certification systems—essential if “Made in Ghana” is to become a credible global brand.
THE VERDICT
The industrial push is ambitious, carrying echoes of earlier efforts that stumbled on implementation. But the combination of raw material bans, investor incentives, and infrastructure investment suggests a coherent strategy rather than piecemeal intervention. For the Bono farmers, the Komenda sugarcane growers, and the aspiring automotive component manufacturers, the promise is simple: Ghana will no longer ship its wealth raw. Whether the machinery actually runs, and the off-takers actually pay, will determine whether this revolution delivers or disappoints.
