President John Dramani Mahama says the expansion of Ghana’s steel manufacturing capacity marks a decisive shift from raw material exports to value-added industrial production.

Speaking at the commissioning of the Phase II Steel Ball Mill and Section Mill manufacturing plant of B5 Plus Limited at Bundase Army Camp, the President says the project represents more than factory growth, describing it as “the expansion of Ghana’s industrial ambition”.

He says Ghana’s annual steel demand, estimated at more than 1.2 million metric tonnes, is driven by construction, mining, energy and manufacturing, but has historically relied heavily on imports.

“That dependence places pressure on our foreign exchange reserves,” President Mahama says, adding that the expanded facility strengthens domestic capacity to substitute imports, stabilise supply chains and reduce exposure to global price volatility.

His Excellency indicated that, cutting steel imports by 20 to 30 percent annually could save Ghana millions of dollars in foreign exchange.

President Mahama says Ghana’s political stability, expanding energy infrastructure and deep-water ports position the country as a natural steel manufacturing hub for West Africa.

President Mahama links industrial expansion to raw material security, saying Ghana generates large volumes of scrap metal that have been exported in raw form for years.

He also highlights B5 Plus as one of Ghana’s leading corporate taxpayers, noting that the company has paid more than $300 million in taxes and is expected to exceed $500 million in the near future.

He commended the management and staff of B5 Plus, as well as traditional authorities in the area, and calls for swift resolution of outstanding land issues to allow further expansion.

The Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, says the new plant aligns with government’s broader strategy to build an integrated iron and steel industry linking mining to manufacturing.

He asserted that domestic steel production is critical to infrastructure delivery under programmes such as the Big Push, which covers roads, railways, housing, energy transmission and industrial parks.

Hon. Buah added that responsible industrial growth must be inclusive, environmentally sustainable and compliant with national regulations.

The Minister furthur noted that facilities such as the B5 Plus expansion create factory jobs, engineering roles, logistics employment and apprenticeship opportunities, while building a skilled industrial workforce.“That competence is what transforms a nation from an importer to a producer”.

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