President John Dramani Mahama has stated that Tema is regaining its industrial glory days, citing renewed investment, expanding industries, and ongoing efforts to restore key industrial assets in the city. He made these remarks at the commissioning of a newly upgraded production line at Nestlé Ghana Limited’s factory in Tema. According to President Mahama, the developments are an indication of growing confidence in Ghana’s investment climate and demonstrate the return of Tema to its position as a major centre of industrial activity.
The President pointed to several developments signalling renewed industrial activity in Tema, including the expansion of the Tema Port, efforts to revive the Tema Oil Refinery, work towards restoring VALCO, and progress within the industrial enclave. He noted that many industries operating in the Tema enclave, including Nestlé, are expanding their production due to the improving investment climate. President Mahama also highlighted that foreign direct investment has increased significantly.
President Mahama mentioned that foreign direct investment had increased from $624 million in 2024 to $2.62 billion in 2025, while interest rates had fallen between nine and 13 per cent. He also stated that inflation had declined to about 5.2 per cent, while the cedi had regained strength and was performing relatively well. According to President Mahama, the improvement in the economic environment is crucial for businesses to make decisions about expanding their operations.
The President emphasized that stability is not just a number in a report but is reflected in the decisions businesses make about whether to expand their operations. He recalled that Tema was the city where Ghana’s founding President, Dr. Kwame Nkrumah, established the industrial foundations of the young republic. President Mahama stated that Tema continues to provide a visible representation of Ghana’s industrial aspirations.
President Mahama noted that the ongoing developments in Tema, together with the expansion of existing industries, are helping to restore the city’s role as an important industrial and economic hub. The commissioning of the Nestlé production line is significant beyond the company itself, as it forms part of a broader resurgence of industrial activity in Tema. The new production line replaces one that had served the Nestlé factory for over 30 years.
The new production line has an annual production capacity of nearly 30,000 tonnes, compared to about 12,960 tonnes from the previous line. President Mahama stated that the increased production capacity will strengthen local manufacturing, with products such as Ideal Milk being filled, homogenized, sterilized, and packaged in Ghana by Ghanaian workers. This development is consistent with the objectives of the government’s 24-hour economy initiative.
President Mahama welcomed Nestlé’s continued investment in Ghana, describing the company as a “Ghanaian institution” whose products have become household names over the years. He said the company’s decision to expand its operations demonstrates confidence in Ghana’s economic prospects. The President’s comments reflect the positive trends in Ghana’s industrial sector, particularly in Tema.
Key points
- President Mahama cites renewed investment and expanding industries as indicators of Tema regaining its industrial glory days.
- Foreign direct investment in Ghana increased from $624 million in 2024 to $2.62 billion in 2025.
- The upgraded Nestlé production line in Tema has an annual capacity of nearly 30,000 tonnes.
