Trade Minister Backs Industry and Price Stability Drive
By Praisebell Rosemond Larbi
Government has reaffirmed its commitment to strengthening Ghana’s industrial base through sustained support for local manufacturing, import substitution and price stability, as part of a broader strategy to drive economic transformation and protect consumers.
Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, gave the assurance after touring three major manufacturing firms at the Tema Free Zones Enclave, where she engaged management on production capacity, cost pressures, pricing behaviour and the overall operating environment for industry.
The minister visited CBI Ghana Limited, producers of Supacem Cement, Ciments de L’Afrique Ghana Limited (CIMAF) and Rider Steel, in what the ministry described as a targeted industry engagement aimed at aligning government policy with on-the-ground realities facing manufacturers.
At CBI Ghana, management disclosed that the company has invested approximately US$145 million since commencing operations in 2016. A key highlight of the visit was the firm’s adoption of calcined clay (LC3) technology, which significantly reduces reliance on imported clinker, one of the major cost drivers in cement production.
The technology, according to the company, has helped lower production costs, reduce foreign exchange demand and deepen local value addition by using locally available materials.
“Reducing imports strengthens our economy, creates jobs, saves foreign exchange and ultimately benefits consumers through better pricing,” the minister said, noting that the innovation fits squarely within government’s import substitution and industrial resilience agenda.
She added that government would continue to engage relevant agencies to address high energy costs, which remain a major challenge for manufacturers across the country.
Ofosu-Adjare also commended CBI Ghana for maintaining stable cement prices despite rising input costs, stressing that government remains focused on achieving a balance between ensuring profitability for manufacturers and protecting consumers from excessive price increases.
At CIMAF Ghana, which has an installed grinding capacity of 2.2 million metric tonnes, discussions centred on production efficiency, quality standards, workplace safety, gender inclusion and the impact of macroeconomic conditions on operational costs.
The minister said recent stability in the cedi should begin to reflect positively in production costs and consumer prices, even as she acknowledged persistent constraints such as energy tariffs and access to key raw materials.
“We want a win-win situation. Industry must get a return on investment, and Ghanaians must enjoy quality products at good prices,” she said.
The final stop was Rider Steel, where Ofosu-Adjare highlighted broader industrial policy measures, including the ban on the export of ferrous and non-ferrous scrap metals, which is aimed at ensuring adequate raw material supply for local steel producers.
She said the policy was designed to help manufacturers operate closer to installed capacity, reduce input costs and support job creation along the steel value chain.
The minister expressed satisfaction with Rider Steel’s operations, including its use of local inputs, compliance with standards and attention to staff welfare. She reiterated government’s commitment to continued engagement with steel manufacturers to promote price stability and enforce quality standards.
Across all three facilities, Ofosu-Adjare stressed that a vibrant private sector remains central to Ghana’s industrialisation drive. She said government will continue to provide policy support, promote innovation and strengthen inter-agency collaboration to build a competitive, resilient and value-adding manufacturing sector capable of supporting long-term economic growth.
