The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has outlined an ambitious agenda to reposition Ghana’s economy from dependence on raw commodity exports to a value-driven, industrialised and job-rich growth model.
Speaking at the joint World Bank–ACET–ISSER Seminar themed “Rethinking Trade for Growth and Jobs in Ghana” in Accra on Thursday, May 7, 2026, the Minister said Ghana’s current economic recovery presents a critical opportunity to deepen industrial transformation and strengthen the country’s competitiveness in regional and global markets.
According to her, while Ghana’s macroeconomic indicators have shown strong improvement including a historic trade surplus of US$13.6 billion in 2025 and record international reserves, sustainable prosperity will depend on the country’s ability to expand manufacturing, process more raw materials locally and diversify exports.
“Ghana is committed to moving beyond the export of raw commodities to building a resilient, self-reliant and export-led economy that creates sustainable jobs for its people,” she stated.
The Minister credited the gains to ongoing economic reforms and fiscal discipline under the administration of President John Dramani Mahama, but cautioned that macroeconomic stability alone would not be sufficient to secure long-term economic transformation.
She stressed that value addition remains central to government’s industrialisation strategy, particularly within the cocoa and gold sectors, where efforts are being intensified to retain more value within the domestic economy.
Elizabeth Ofosu-Adjare disclosed that Ghana’s non-traditional exports rose sharply to a record US$5 billion in 2025, representing a 30.7 percent increase over the previous year.
Processed and semi-processed products accounted for more than US$3 billion of that figure, with cocoa derivatives including cocoa paste, butter and powder emerging as the country’s top foreign exchange earners within the category.
She further revealed that Ghana has set a target to process at least 50 percent of its cocoa domestically and has already installed grinding capacity exceeding 500,000 metric tonnes to support that ambition.
The Minister added that similar reforms are being pursued in the gold sector as part of broader efforts to deepen local beneficiation, increase export value and create higher-skilled employment opportunities.
At the policy level, she said the Ministry is engaging manufacturers, exporters, trade associations and industry players to address operational bottlenecks, improve product standards and enhance the competitiveness of Ghanaian goods internationally.
She also highlighted the Ministry’s flagship Feed the Industry Programme, which is designed to strengthen the supply of quality raw materials to local manufacturers and tackle persistent under-capacity production within the industrial sector.
“Industrial growth cannot happen without reliable access to raw materials. The Feed the Industry Programme is intended to bridge that gap and support domestic production,” she explained.
On regional integration and continental trade, the Minister said Ghana continues to champion the harmonisation of trade standards within ECOWAS to improve competitiveness under the African Continental Free Trade Area (AfCFTA).
She noted that bilateral engagements are also ongoing to address cross-border trade barriers, improve compliance systems and facilitate smoother movement of goods across African markets.
Elizabeth Ofosu-Adjare commended the World Bank, the African Center for Economic Transformation (ACET), and the Institute of Statistical, Social and Economic Research (ISSER) for creating a platform for policy dialogue on trade and development.
She called for stronger collaboration between government, academia, development partners and the private sector to implement strategic trade reforms capable of driving inclusive growth and employment creation.
Meanwhile, World Bank Regional Director, Seynabou Sakho, said Ghana could unlock greater trade benefits by improving logistics systems, strengthening quality certification frameworks and addressing sector-specific production constraints.
The seminar forms part of a new joint initiative by the World Bank, ACET and ISSER aimed at stimulating informed public dialogue on trade policy and economic transformation in Ghana.
