Ghana has created a significant policy opening to transform its agriculture sector into a major processing, manufacturing, and export industry. The government's 24-Hour Economy and Accelerated Export Development programme, along with the removal of excise duty on locally manufactured fruit juices, provides a powerful platform for new agro-industrial businesses. This initiative could exceed $9 billion annually and support over 800,000 jobs. The emerging industries will require a diverse workforce, including engineers, food scientists, and entrepreneurs.
The removal of excise duty on locally manufactured fruit juices is a significant intervention. President Mahama highlighted this exemption as an incentive for local production when assenting to the Excise Act, 2026. Industry associations welcomed the decision, citing the 20 percent excise duty as a constraint on investment. For processors like Ekumfi Fruits and Juices, this removal could improve the economics of domestic processing, enabling factories to become more competitive and buy more fruit from farmers.
The 24-Hour Economy programme provides another part of the industrial platform. Qualifying factories registered under the initiative can import machinery and equipment without paying duties and taxes. The framework also offers import-tax relief for machinery used in strategic agriculture and manufacturing, alongside corporate-tax incentives linked to multi-shift operations. This programme could enable juice factories to operate beyond conventional business hours, increasing production and employment.
Economic stability is also crucial for businesses importing machinery and equipment. The Bank of Ghana reported on September 17 that inflation had returned within its target band, external buffers had strengthened, and the exchange rate had remained broadly stable. Although borrowing costs remain a constraint, the direction is encouraging. Ghana needs to capitalize on the growing global demand for healthy foods, functional foods, and natural beverages.
The global healthy-foods market is estimated at approximately $1.16 trillion in 2026, with functional foods alone valued at over $421 billion. Ghana's proposed $9 billion opportunity represents less than one percent of the global market. The country must identify areas where it has agricultural and industrial advantages and capture a commercially meaningful share. Cocoa, pineapple, and other fruits provide a foundation for growth.
Cocoa is a prime example of how locally produced crops can move through industrial processing into finished products. The government has committed to processing at least 50 percent of Ghana's cocoa beans locally. Pineapple and other fruits also offer opportunities for growth, with Ekumfi Fruits and Juices connecting farms to processing, packaging, branding, and distribution. The removal of excise duty could support expansion into new products and create jobs.
Other crops, such as rubber, shea, avocado, coconut, and oil palm, offer additional routes into manufacturing, exports, and import substitution. Ghana can deepen its rubber industry, expand its shea sector, and capitalize on the dual opportunity presented by avocado. By leveraging these crops and creating a supportive business environment, Ghana can achieve its agro-industrial potential and become a major player in the global market.
Key points
- The Ghanaian government's new policies aim to transform the agriculture sector into a major processing, manufacturing, and export industry, with a potential value of $9 billion annually.
- The removal of excise duty on locally manufactured fruit juices and the 24-Hour Economy programme are key initiatives driving this growth.
- Ghana's agro-industrial sector could support over 800,000 jobs and capitalize on the growing global demand for healthy foods and natural products.
