Wednesday, 07 May

President Mahama sets $10 billion target for non-traditional exports by 2030

Business
President John Mahama

President John Dramani Mahama has unveiled an ambitious plan to triple Ghana’s non-traditional export (NTE) earnings from the current $3.5 billion to $10 billion annually by the year 2030.

Speaking at the inauguration of the Accelerated Export Development Advisory Committee (AEDC) at the Jubilee House, President Mahama outlined a bold export-led growth strategy anchored on value addition, industrial expansion, and the removal of long-standing trade barriers.

The president stressed the urgent need to diversify Ghana’s export base by investing in value-added products and boosting local manufacturing.

He highlighted the country’s potential to become a regional export powerhouse if structural challenges, particularly those affecting exporters, are decisively addressed.

As part of the government’s export agenda, President Mahama announced a series of strategic infrastructure and policy reforms aimed at reducing Ghana’s notoriously high logistics costs.

These include the modernisation of the country’s ports, the revamping of the Volta Lake Transport Company, and the fast-tracking of key infrastructure projects such as the Mpakadan and Boankra inland ports.

“These upgrades will significantly improve the efficiency of our export logistics, making Ghana more competitive across West Africa,” the president said.

To further support exporters and local producers, the government also plans to introduce performance-based tax incentives, expedite export certification processes, and provide funding to businesses poised for export growth.

 

 

Source: Classfmonline.com/Pearl Ollennu