Patrick Quophi Obosu Quophi Obosu 
John Dramani Mahama has inaugurated the Phase Two expansion of B5 Plus Limited’s steel ball mill and manufacturing facility at Lakpleku in the Ningo Prampram District.
He hailed the project as a significant milestone in Ghana’s industrial transformation, noting that it will enhance local steel production, generate employment opportunities, and strengthen the country’s position as a regional manufacturing hub under the 24-hour economy initiative.
Boosting Ghana’s Industrial Capacity
The expansion marks a significant step toward strengthening Ghana’s industrial base, increasing local production, and enhancing the country’s competitiveness within the regional market.
The President said the expansion represents more than a factory upgrade, it reflects Ghana’s shift from raw material exports to value-added industrial production.
“Steel consumption is a strong indicator of industrial development,” he noted.
Ghana’s annual steel demand exceeds 1.2 million metric tons, fuelled by growth in construction, mining, energy, and manufacturing. In the past, a significant portion of this demand was satisfied through imports, placing pressure on the country’s foreign exchange reserves.
The expansion by B5 Plus Limited is projected to reduce steel imports by 20–30 percent each year, potentially saving the nation hundreds of millions of dollars in foreign exchange.
Regional Trade and the African Continental Free Trade Area
John Dramani Mahama underscored Ghana’s strategic location in West Africa, pointing to its political stability, deepwater ports, and preferential access to the 1.4 billion-person market under the African Continental Free Trade Area.
He noted that locally manufactured steel can now support major infrastructure projects across West Africa, helping to reduce the region’s reliance on imports from Asia and Europe.
“This is regional value chain integration in real practice,” John Dramani Mahama stated, adding that locally produced steel can support the construction, mining, cement, and mineral processing industries throughout the sub-region.
24-Hour Economy and Energy-Intensive Manufacturing
Under the 24-hour economy initiative, energy-intensive industries such as steel manufacturing can operate around the clock, minimizing energy waste, boosting efficiency, and lowering production costs. John Dramani Mahama announced that B5 Plus Limited is among the first firms to enroll in the programme.
He further revealed that the allocation of GH¢110 million in the 2026 budget to operationalise the policy demonstrates government’s commitment. Highlighting the advantages of a three-shift system, he pointed to increased job creation, higher productivity, and expanded export potential.
Fiscal Reforms and Industrial Policy
John Dramani Mahama outlined a series of recent fiscal reforms designed to support local manufacturers, including the removal of the COVID-19 levy, a reduction in the VAT rate from 21.9% to 20%, and the introduction of digital tax monitoring systems to curb leakages and improve predictability for investors.
He emphasised that linking mining, metal processing, and manufacturing will deepen Ghana’s industrial ecosystem, generate technical employment, expand vocational training pathways, and cultivate a new generation of skilled engineers and technicians.
Job Creation and Economic Impact
The expansion is projected to generate between 5,000 and 10,000 direct and indirect jobs, boost government revenue through VAT, corporate taxes, and PAYE, and further strengthen Ghana’s industrial base.
John Dramani Mahama praised the management and staff of B5 Plus Limited for their commitment and called for the swift resolution of outstanding land matters to pave the way for additional expansion.
“It is my honour to formally declare the second-phase expansion of the B5 Plus Limited steel manufacturing facility commissioned — a step that will strengthen Ghana’s economy, deepen regional trade, and advance Africa’s industrial renaissance,” concluded John Dramani Mahama.
