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, combined with the removal of excise duty on locally manufactured fruit juices and proposed incentives for machinery and equipment, provides a powerful platform for a new generation of Ghanaian agro-industrial businesses. This initiative could exceed $9 billion annually and support over 800,000 direct, indirect and induced jobs.
The removal of excise duty on locally manufactured fruit juices is a significant intervention. President John Dramani Mahama highlighted the exemption as an incentive for local production when assenting to the Excise Act, 2026. Industry associations in Ekumfi and Asebu welcomed the government's decision, arguing that the tax had constrained investment across the value chain. For processors such as Ekumfi Fruits and Juices, the removal could improve the economics of domestic processing.
The 24-Hour Economy programme provides another part of the industrial platform. The programme is designed to expand production, employment and exports, while its incentive framework makes industrial expansion and retooling more attractive. Qualifying factories registered under the initiative can import machinery and equipment without paying duties and taxes. The framework also provides import-tax relief for machinery used in strategic agriculture and manufacturing.
Economic stability is also crucial for businesses importing machinery, packaging materials and specialized equipment. The Bank of Ghana reported that inflation had returned within its target band, external buffers had strengthened and the exchange rate had remained broadly stable. However, borrowing costs remain a constraint. A stable economy will help Ghanaian businesses compete globally.
Global consumers are spending heavily on healthy foods, functional foods, plant proteins, natural beverages, nutraceutical ingredients and wellness products. The global healthy-foods market is estimated at approximately $1.16 trillion in 2026. Ghana's proposed $9 billion opportunity represents less than one percent of this market. The country must identify areas where it has agricultural and industrial advantages and capture a commercially meaningful share.
Cocoa is one of the areas where Ghana can leverage its advantages. The opportunity extends beyond exporting beans into cocoa liquor, butter, powder, chocolate, beverages, functional ingredients and cosmetics. President Mahama has committed to processing at least 50 percent of Ghana's cocoa beans locally. Pineapple and other fruits provide another foundation for growth, with Ekumfi Fruits and Juices connecting farms to processing, packaging, branding and distribution.
The government's initiatives have been spearheaded by President Mahama and Finance Minister Dr. Cassiel Ato Forson. According to TV3 Ghana, the combination of these policies and improving macroeconomic stability provides a powerful platform for a new generation of Ghanaian agro-industrial businesses. With the right implementation, Ghana can grow, process, manufacture and sell competitively to domestic and international markets.
Key points
- Ghana aims to transform agriculture into a major processing, manufacturing and export industry
- The government's initiatives include the removal of excise duty on locally manufactured fruit juices and proposed incentives for machinery and equipment
- The agro-industrial sector could exceed $9 billion annually and support over 800,000 jobs
