President Mahama projects $300 Million annual revenue from Ghana’s processed metal exports
23rd February 2026
President John Dramani Mahama has projected that the government’s ban on the export of ferrous scrap materials could generate approximately US$300 million annually through processed metal exports.
Speaking at the commissioning of the phase two expansion of B5 Plus Limited in Lakpleku, Ningo Prampram Municipality, President Mahama said the policy would reduce steel imports by 20 to 30 percent, expand local production capacity, create 10,000 new jobs in the steel sector, increase tax revenue, and save Ghana significant foreign exchange.
“This is what industrial sovereignty is about,” he emphasized, highlighting the importance of self-reliance and value addition in Ghana’s industrial strategy.
The new phase at B5 Plus has brought into operation a state-of-the-art steel ball mill and section mill, strengthening Ghana’s position as a regional hub for steel production in West Africa. The facility is expected to boost local production of structural steel sections, grinding media balls for the mining sector, pre-engineered building systems, and heavy industrial fabrications, thereby enhancing domestic supply chains for infrastructure and construction projects.
When fully operational, the expansion will create nearly 5,000 direct and indirect jobs, increasing B5 Plus’ workforce to around 15,000.
President Mahama noted that Ghana generates significant volumes of scrap metal from demolition, vehicle imports, and construction activities but exports much of it in raw form, depriving the local steel industry of essential raw materials. He added that steel consumption is a key indicator of industrial growth, alongside infrastructure development and urbanization in emerging economies.
He explained that the B5 Plus expansion positions Ghana as a leader in steel manufacturing capable of serving the construction, mining, cement, and mineral processing sectors across West Africa, where annual infrastructure requirements exceed US$100 billion. The project aligns with government policies on import substitution, job creation, and infrastructure expansion.
Briefing the President, B5 Plus Chairman Mukesh Tarkwani described the facility as more than just a factory.
“Today is not merely the opening of a factory; it is the expansion of Ghana’s industrial frontier,” he said, noting that Ghana possesses the skilled labour necessary for industrialization. Tarkwani highlighted that Ghanaian engineers managed the facility’s installation from start to finish.
“Everything you see here—from civil works to structural fabrication—has been designed, fabricated, and constructed by Ghanaian hands, in Ghana. Only the machinery was imported,” he added.