The Minister for Trade, Agribusiness and Industry, Hon. Elizabeth Ofosu-Adjare, has reiterated government’s resolve to deepen import substitution, stabilise prices, and strengthen Ghana’s industrial base, following a working tour of three major manufacturing firms at the Tema Free Zones Enclave.
The tour, which formed part of government’s broader engagement with strategic industries, took the Minister and her delegation to CBI Ghana Limited (Supacem Cement), Ciments de L’Afrique Ghana Limited (CIMAF), and Rider Steel, to assess production capacity, cost structures, and policy support needed to ensure quality products at affordable prices for Ghanaians.
At CBI Ghana Limited, producers of Supacem Cement, the Minister commended the company for its strong commitment to import substitution, innovation, and cost efficiency, key pillars of government’s industrial strategy.
CBI Ghana Limited, established in 2016, has invested about US$145 million in Ghana’s cement industry and is widely recognised for pioneering the use of limestone calcined clay cement (LC3) technology. The innovation significantly reduces dependence on imported clinker, lowers production costs, and saves foreign exchange.
“I must commend you highly for the substitution,” Hon. Ofosu-Adjare said, describing import substitution as critical to macroeconomic stability. “Once we reduce our imports, it gives the cedi time to breathe. And I can see that this is exactly what you are doing,” she added.
The Minister stressed that lower production costs ultimately benefit consumers, noting that industry costs are inevitably passed on to the public.
“Anytime industry decides to reduce the cost of doing business, we benefit as consumers because when your cost is low, prices are good,” she stated.
She welcomed Supacem’s decision to rely more on natural gas, which she described as a cheaper and more sustainable energy option, and assured the company of government’s support in resolving any bottlenecks.
“If there are challenges associated with your gas project coming on stream on time, I am here with my team to liaise with the Ministry of Energy and all relevant agencies to ensure timely intervention,” the Minister assured.
Hon. Ofosu-Adjare also acknowledged the delicate balance between price control and investor returns, noting that the Ministry remains open to dialogue.
“We are happy to have further discussions to see how you get returns on your investment while helping us get good prices,” she said, commending Supacem for maintaining stable prices despite cost pressures.
The Minister’s second stop was Ciments de L’Afrique Ghana Limited (CIMAF), one of Ghana’s fastest-growing cement producers and part of a pan-African cement group with operations across West and Central Africa.
CIMAF Ghana operates one of the largest cement grinding facilities in the group, with an installed capacity of 2.2 million metric tonnes, playing a key role in Ghana’s construction and infrastructure supply chain.
Addressing management, Hon. Ofosu-Adjare acknowledged that industry pricing is influenced by factors such as borrowing costs and exchange rate volatility. However, she noted that recent macroeconomic improvements must translate into consumer benefits.
“Fortunately, under the able leadership of His Excellency John Dramani Mahama, the exchange rate has stabilised and come down appreciably,” she said, adding that “Ghanaians are calling for a pound of the cake because the gains being made are for both industry and consumers.”
She emphasised government’s commitment to supporting manufacturers to reduce production costs without compromising quality.
“I am committed to helping you reduce the cost of doing business so that you are still able to give us good prices, yet maintain the high quality you always deliver,” the Minister stated.
Discussions at CIMAF focused on pricing transparency, quality assurance, and collaboration, with the Minister reiterating that government seeks a win-win outcome for both producers and consumers.
The final stop was Rider Steel, a key player in Ghana’s steel manufacturing and recycling sector. Rider Steel operates a Tema greenfield plant with a capacity of 80,000 metric tonnes annually, alongside a 300,000-metric-tonne steel recycling plant in Kumasi, developed in partnership with the International Finance Corporation (IFC).
Hon. Ofosu-Adjare said government’s decision to ban the export of ferrous and non-ferrous scrap metals was driven by the need to ensure steady raw material supply for local industries.
“We took that decision to make sure we feed our industry with raw materials,” she explained, noting that some manufacturers have been unable to operate at full capacity due to shortages.
The Minister praised Rider Steel’s use of both ferrous and non-ferrous inputs, its commitment to quality standards, and its focus on staff welfare.
“We want jobs for our people, but jobs done in dignity, where workers get value for the hard work they put in,” she said.
Expressing satisfaction with price stability in the steel sector, Hon. Ofosu-Adjare reaffirmed government’s readiness to continue working with manufacturers.
“I’m happy about what is going on here, and I’m grateful for the price stabilisation. We will continue to work together,” she concluded.
Across all three facilities, the Minister stressed that a thriving private sector remains central to Ghana’s industrialisation drive, adding that government will continue to facilitate inter-agency collaboration, promote innovation, and ensure policies that support competitiveness while protecting consumers.
The tour underscored government’s broader goal of building a resilient, self-reliant manufacturing sector that delivers quality products, creates jobs, and contributes to sustainable economic growth.
