Ghanaian manufacturers possess the capability to produce high-quality goods for global markets. However, high production costs and weak domestic value chains severely limit their export potential, according to Seth Twum-Akwaboah, CEO of the Association of Ghana Industries (AGI).
Mr. Twum-Akwaboah highlighted that local industries struggle to compete internationally due to these persistent challenges. Lower production costs and better infrastructure access could unlock significant growth for these businesses. The success of Ghanaian ceramic manufacturers, who export to the US and Europe, demonstrates this potential when conditions are favourable.
This situation directly impacts Ghana's broader economic narrative of expanding non-traditional exports. Non-traditional export earnings increased by 30.7% to $5 billion in 2025. This growth signals underlying capacity. However, high costs prevent many more companies from contributing to this trend. The government's efforts to strengthen the Bank of Ghana's balance sheet also aim to reduce fiscal risks that can impact the business environment.
“If we make the business environment good and reduce the cost of production, we can actually export,” Mr. Twum-Akwaboah stated during Channel One TV’s Quarterly Economic Review on July 9, 2026. He cited the ceramic industry's arrangement with Ghana Gas, securing direct gas supply, as an example. This arrangement significantly reduces their operational expenses.
Addressing the high cost of doing business is crucial for Ghana's economic future. Policymakers must focus on improving infrastructure and ensuring access to reliable and affordable inputs for manufacturers. Such measures could lead to increased exports, creating more jobs and boosting economic growth. The performance of key sectors like manufacturing will heavily influence Ghana's overall economic outlook.
Ghana's gross domestic product (GDP) growth rate is projected at 6.4% for 2025 by IC Insights. Achieving this type of growth sustainably requires robust export performance. Supporting local industries in overcoming cost barriers becomes a critical component of this national economic strategy. This focus will ensure Ghana can fully capitalize on its inherent export capabilities.