Gov’t Forecasts $10Bn in Exports by 2030

By:  Ernest Afram

President John Mahama has inaugurated the Accelerated Export Development Advisory Committee, setting a bold goal to increase Ghana’s non-traditional exports from $3.5 billion to $10 billion by 2030.

In his opening remarks, Mahama emphasized the untapped potential of Ghana’s export sector but acknowledged the significant challenges that hold it back. “Our export sector is rich with potential, but it continues to face persistent barriers that prevent us from fully capitalizing on this potential” he said.

He pointed to non-tariff barriers, high logistics costs, and inadequate infrastructure as key obstacles that have hindered the growth of Ghana’s export market. “Inefficiencies in our export chain cost us up to $4.3 billion annually, technical regulations and delays affect nearly 50% of our exporters, making it difficult for them to compete effectively on the global stage.” He said.

The President also focused on the underrepresentation of women-led small and medium-sized enterprises (SMEs) in the export sector. “Women-led SMEs are among the most innovative entrepreneurs in Ghana. However, they account for less than 4% of our total export base… This is a clear sign that we must do more to support women in business and ensure that they can thrive in the global marketplace.” He said.

As part of his commitment to addressing these challenges, Mahama vowed to introduce a series of reforms aimed at increasing the participation of women-led businesses. “We will provide technical support, access to finance, and the digital tools necessary for women to break into the export market and compete at a global level,” he stated.

The newly inaugurated Accelerated Export Development Advisory Committee will work across various sectors, including agro-processing, pharmaceuticals, textiles, and fisheries. Its mandate is to streamline the export process, reduce the regulatory burden on exporters, and facilitate access to new international markets.

“We are not just focusing on Africa. We will also expand our reach into new markets in Asia, the Middle East, and Latin America, while continuing to strengthen our long standing trade relations with Europe and North America,” He said.

The committee is also tasked with driving trade under the African Continental Free Trade Area (AfCFTA), a key initiative aimed at boosting intra-African trade and creating opportunities for Ghanaian businesses to tap into the growing continental market. President Mahama concluded his address with a call for unity and collaboration, urging stakeholders across the public and private sectors to join forces in developing a more competitive and resilient export sector. “Together, we will create an environment where Ghanaian businesses can thrive, create jobs, and contribute meaningfully to our economy,” he said.