Mukesh Thakwani, President and CEO of B5 Plus Limited, declared that Ghana must transition from exporting raw materials to exporting finished products and industrial value. He urged policymakers and business leaders to focus on creating globally competitive industries during a keynote address at the 10th Ghana CEO Summit 2026. This shift aims to move Ghana beyond merely exporting potential.
Mr. Thakwani's call aligns with the summit's theme, "From Potential to Production – Ghana’s Industrial Decade." He stressed that Ghana has for too long exported opportunity and imported value, affecting its economic growth. His vision involves transforming the nation's natural and human resources into high-value goods.
Ghana's economy has historically relied on primary commodity exports like gold, cocoa, and oil, which often experience volatile global prices. This strategy means the country earns less than it could from processing these resources domestically. Moving to finished product exports could stabilize earnings, create more jobs, and boost industrial development, a key goal for the government's economic agenda. Data indicates that Ghana's manufacturing sector's contribution to its Gross Domestic Product (GDP) has remained relatively low, hovering around 7-10% over the past decade, underscoring the need for industrial expansion.
"For too long, Africa has exported opportunity and imported value. Ghana must stop exporting potential and start exporting finished value," Mr. Thakwani stated. This powerful message was delivered to a large audience including President John Dramani Mahama and other key stakeholders. He praised the government's economic transformation agenda and the President’s 24-Hour Economy programme as vital for Ghana’s modern economic history.
The path forward requires several strategic adjustments and commitments. Mr. Thakwani outlined five critical shifts essential for Ghana’s industrial future. First, Ghana must move from depending on imports to driving production-led growth, recognizing that manufacturing generates employment and innovation. Second, local content policies must become practical frameworks for industrial capability, not just rhetoric. Third, the country needs a genuine 24-Hour Economy where all production facilities operate continuously to maximize output. Fourth, Ghana must develop complete agricultural value chains to avoid exporting raw commodities, giving farmers better market access and processing facilities. Finally, industries must embrace circular economy principles, turning waste into productive resources.
Implementing these changes would significantly impact Ghana's employment rates and trade balance. A stronger manufacturing base would create skilled jobs and reduce reliance on imported goods, potentially strengthening the Ghana cedi (GHS) against major currencies. Mr. Thakwani also advocated for specific government interventions. These include tax exemptions on machinery, renewable energy systems, and critical manufacturing spare parts. He also called for stronger enforcement of local content rules and anti-dumping protections against unfair imports. Improving industrial infrastructure like roads and cleaner industrial zones is also crucial, addressing issues like congestion on the Tema Motorway. This will ensure factories can transport goods efficiently and compete globally.
B5 Plus itself stands ready to support this transformation, with plans for a 20-megawatt rooftop solar power installation. This will be one of Africa's largest private-sector industrial solar projects, demonstrating a commitment to renewable energy and sustainable industrial practices. The company also pledges investments in agricultural infrastructure such as steel structures, irrigation systems, and agro-processing facilities. Ultimately, successful adoption of these strategies will mark a significant turning point for Ghana's economic structure, moving it towards self-sufficiency and higher value generation.