Cabinet Approves New Cashew Processing Plants to Boost Export-Led Industrial Growth

Government has approved the establishment of two new cashew processing factories in the Bono and Bono East regions as part of efforts to strengthen Ghana’s export-led industrial transformation agenda.

Addressing Parliament on February 17, 2026, Minister for Trade, Agribusiness and Industry Elizabeth Ofosu-Adjare outlined a comprehensive strategy to revive key industries, expand exports, and position Ghana as a competitive manufacturing hub in West Africa.

Cashew processing expansion

The new factories are expected to enhance value addition in Ghana’s cashew sector, create jobs, and reduce the export of raw nuts while boosting foreign exchange earnings.

Komenda Sugar Factory revival

A key component of the strategy is the revival of the Komenda Sugar Factory, commissioned in 2016 with the capacity to process 1,250 metric tonnes of sugarcane daily. Despite its potential to stimulate economic growth and employment, the facility has faced prolonged technical and financial challenges.

Since assuming office, the Minister has engaged traditional leaders, farmers, and stakeholders, leading to the formation of an Interim Management Committee to conduct technical and financial assessments and develop a turnaround plan. Provisions in the 2026 Budget will support operationalisation, while a Transaction Advisor is being engaged to attract a strategic investor.

Automotive manufacturing policy in progress

The Minister also updated Parliament on the draft Ghana Automotive Component Manufacturing Development Policy, designed to attract investment into vehicle component production, improve standards, and integrate local firms into regional and global value chains under the African Continental Free Trade Area framework. Consultations are ongoing with Finance Minister Cassiel Ato Forson to align incentives ahead of Cabinet submission.

Export development and industry support initiatives

Under the Accelerated Export Development Programme, government interventions include:

• Distribution of over 211,000 coconut seedlings to farmers
• Advisory support to 850 MSMEs
• Extension of export proceeds repatriation from 60 to 120 days in collaboration with the Bank of Ghana
• Deployment of a single-window export platform by the Ghana Free Zones Authority
• Strengthened certification systems by the Ghana Standards Authority

Feed the Industry & export diversification drive

The Minister highlighted the “Feed the Industry” initiative under Ghana FIRST, which links agriculture to agro-processing to ensure reliable raw material supply for local industries. The Accelerated Export Development Advisory Committee, chaired by John Dramani Mahama, will provide strategic direction for value addition and diversification under the 24-Hour+ Economy policy.

Beyond cashew processing, the Ministry is pursuing three new garment factories through public-private partnerships while revitalising industrial assets nationwide.

The government says these initiatives form part of a broader push to build a resilient, inclusive, and export-driven economy that creates sustainable jobs, strengthens local industry, and positions Ghana as a leading industrial hub on the African continent.