Government highlights stable economy and AfCFTA benefits to boost investment

The Government of Ghana is encouraging investors to expand their operations in the country, highlighting improving macroeconomic conditions, political stability, and Ghana’s strategic role as host of the African Continental Free Trade Area (AfCFTA) Secretariat.

Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said these factors position Ghana as a gateway for businesses looking to scale across West Africa. She made the remarks during a working visit to the GB Foods manufacturing facility in Tema on Wednesday, December 17, 2025.

During the visit, the Minister commended GB Foods’ plans to increase local sourcing of raw materials starting next year, describing the initiative as a boost for agribusiness value chains and import substitution.

“GB Foods is now entering commercial farming. They are producing their own fresh tomatoes, ginger, and pepper. I have seen the tomatoes from their demonstration farm, and by next year, the company will source 90 to 100% of its raw materials locally. This is exactly what we want—local sourcing creates jobs for farmers, transporters, and everyone in the value chain, supporting our industrialization agenda,” she said.

She also noted the company’s growing export activities, sending products to countries such as Côte d’Ivoire and Burkina Faso, which brings in much-needed foreign exchange. “Ghana must be the hub for industrialization. We have a strong economy, a stable democracy, and leadership committed to creating a conducive business environment. With the AfCFTA headquarters here, every industry, like GB Foods, can manufacture in Ghana and export across West Africa and the continent,” the Minister added.

Addressing operational challenges, Ofosu-Adjare pledged to collaborate with relevant agencies to resolve issues such as erratic water supply, which GB Foods identified as a major cost factor. She noted that improving water access would reduce production costs and enhance the company’s competitiveness in export markets.

Dr. Teddy Ngu, Director of Institutional Affairs and Agribusiness at GB Foods, said the company is preparing to scale up its commercial farming operations following a successful pilot phase to support local production.

“Currently, we are securing cadastral mapping with the Lands Commission and growing tomatoes, some of which have already been supplied to government. Next year, we plan to scale up to a 2,000 metric ton-per-day factory, cultivating 4,000 hectares of tomatoes ourselves and 2,000 hectares through outgrowers, who will also grow ginger, onion, and garlic,” he said.

The Minister’s visit underscores the government’s commitment to attracting investment, strengthening local agribusiness, and positioning Ghana as a hub for industrialization and regional trade.