Trade Minister announces new cashew factories in Bono, Bono East regions
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has reiterated the Government’s determination to revitalise Ghana’s industrial sector, boost exports and position the country as a leading manufacturing hub in West Africa.
She disclosed that Cabinet has approved the establishment of two new cashew processing factories in the Bono and Bono East regions as part of efforts to add value to agricultural produce and expand export capacity.
Responding to questions on the floor of Parliament in Accra on Tuesday, February 17, 2026, the Minister outlined steps being taken to revive the Komenda Sugar Factory. Commissioned in 2016 with the capacity to process 1,250 metric tonnes of sugarcane daily, the facility was envisioned as a major agro industrial enclave but has struggled to operate at full capacity due to technical, financial and operational setbacks.
Hon. Ofosu-Adjare said that upon assuming office, she visited Komenda to engage chiefs, farmers and other stakeholders. Following the engagement, Government set up an Interim Management Committee to undertake a comprehensive technical and financial review and to design a sustainable recovery plan.
She added that the Ministry has prioritised the engagement of a Transaction Advisor to attract a strategic investor, with funding support captured in the 2026 Budget to facilitate the factory’s full operationalisation.
The Minister also updated Parliament on the draft Ghana Automotive Component Manufacturing Development Policy, a key component of the country’s Industrial Transformation Agenda. The policy aims to attract investment into vehicle component production, strengthen standards, build technical capacity and integrate local enterprises into regional and global value chains under the African Continental Free Trade Area.
According to her, the draft has been circulated to relevant ministries for input, and discussions will soon be held with the Minister for Finance, Dr Cassiel Ato Forson, to harmonise proposed incentives before submission to Cabinet. She stressed that the policy offers a major opportunity to deepen industrialisation, create skilled employment and position Ghana as West Africa’s automotive hub.
Hon. Ofosu-Adjare further highlighted interventions under the Accelerated Export Development Programme to stimulate production and expand export volumes. She cited the distribution of more than 211,000 coconut seedlings to farmers to diversify export products, advisory support to 850 MSMEs to improve competitiveness, successful engagement with the Bank of Ghana to extend the export proceeds repatriation period from 60 to 120 days, deployment of a single window export platform by the Ghana Free Zones Authority, and strengthened certification and inspection systems by the Ghana Standards Authority.
She also underscored the implementation of the Feed the Industry initiative under Ghana FIRST, which links agriculture and agro processing to guarantee a steady supply of raw materials for local industries.
On the Accelerated Export Development Advisory Committee, chaired by President John Dramani Mahama, the Minister noted that the body will provide strategic direction for value addition and economic diversification under the 24 Hour Plus Economy policy.
She revealed that the Ministry is pursuing the establishment of three new garment factories through Public Private Partnerships and the revitalisation of key industrial assets to enhance production and create jobs.
Hon. Ofosu-Adjare reaffirmed the Ministry’s commitment to building a resilient, inclusive and export driven economy that strengthens local industry, creates sustainable employment and secures Ghana’s position as a competitive industrial hub in Africa.