Latest news with #ElizabethOfosu-Adjare
Fibre2Fashion
2 days ago
- Business
- Fibre2Fashion
Ghana, US discuss AGOA renewal, tariffs, trade balance
Ghana's Trade, Agri-business and Industry Minister Elizabeth Ofosu-Adjare recently met senior US officials in Washington, DC, to address critical trade policy issues affecting both sides. They discussed the African Growth and Opportunity Act (AGOA), Ghana's local content policy, US import regulations, outstanding debts to US firms and the revival of the Trade and Investment Framework Agreement (TIFA). Ghana's Trade, Agri-business and Industry Minister Elizabeth Ofosu-Adjare recently met senior US officials in Washington, DC, to address critical trade policy issues. They discussed the AGOA, Ghana's local content policy, US import regulations, outstanding debts to US firms and the revival of the TIFA pact. She is scheduled to meet USTR officials in the next few weeks to continue consultations. The minister stressed the importance of AGOA—set to expire in September 2025—in attracting US investment, particularly, in Ghana's growing garment and textile industry. Enacted in 2000, AGOA offers duty-free access to over 1,800 products from eligible sub-Saharan African countries. The high-level meeting followed protectionist measures announced under the United States' revived 'America First' trade policy. Both sides agreed on the need for constructive engagement to balance Ghana's development goals with the expectations of foreign investors, and highlighted the importance of regulatory clarity and compliance with safety and environmental standards, a domestic news agency reported. The minister is scheduled to meet officials of the office of the US trade representative in the next few weeks to continue consultations. Fibre2Fashion News Desk (DS)
Yahoo
28-04-2025
- Business
- Yahoo
Ghana to engage Private Sector to establish three garment factories
The establishment of these plants is a component of Ghana President John Dramani Mahama's broader plan aimed at accelerating industrial growth and expanding employment opportunities, reported Ghana News Agency. The announcement was made by Trade, Agribusiness, and Industry Minister Elizabeth Ofosu-Adjare during her address at the Kwahu Business Forum's second edition in Mpraeso, located in the Eastern Region's Kwahu South District. The ministry is focused on fostering strategic enhancements in value chains to rejuvenate underperforming sectors and boost production capacities for domestic and international markets. The initiative involving the garment factories in Ghana is anticipated to be a pivotal factor in the transformation of the nation's economic landscape and in generating enduring employment prospects. President Mahama was quoted by Ghanaian Times as saying: 'We are prioritising sectors that can absorb labour and grow our economy sustainably— agro-processing, ICT, manufacturing, tourism, renewable energy, and the green economy. But our focus is not only on attracting foreign investment. We are equally committed to empowering Ghanaians to become owners and drivers of enterprise.' The planned facilities are envisioned as part of the 24-hour Economy Policy. Although detailed information about the factories has not been released, it is anticipated that each of the garment manufacturing units will have the capacity to provide employment for 3,000 workers per shift. This development is expected to result in a cumulative creation of 27,000 job opportunities within the nation. Additionally, Ofosu-Adjare is set to spearhead a delegation comprising prominent figures from the private sector on a trip to China. The purpose of this visit is to conduct focused business-to-business (B2B) engagements. The Kwahu Business Forum, spanning two days and themed "The Future of Business: The Role of the Financial Sector," represents a significant governmental effort to promote entrepreneurship and bolster small and medium enterprises (SMEs) in Ghana. A key legislative goal for the year includes passing the Business Regulatory Reform Commission Bill. This bill aims to institutionalise reform processes, bridge gaps between public and private sector interests, and implement regulatory impact assessments. In 2023, World Shoe Social Enterprise, a Ghanaian social enterprise affiliated with World Shoe, inaugurated its first factory in Ghana, which is capable of producing more than 5 million shoes that prioritise performance, environmental sustainability, and disease prevention. Northshore Apparel has indicated on its LinkedIn page that it is currently working on an apparel production plant covering 22,000m2 in Savelugu, northern Ghana, with operational commencement targeted for March. The establishment is projected to generate more than 10,000 direct job opportunities. "Ghana to engage Private Sector to establish three garment factories" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Fibre2Fashion
23-04-2025
- Business
- Fibre2Fashion
Ghana to set up 3 garment factories with private sector collaboration
Ghana plans to set up three garment factories, each capable of offering 3,000 jobs per shift, creating 27,000 jobs under the 24-hour Economy Policy, according to the country's Minister of Trade, Agribusiness and Industry Elizabeth Ofosu-Adjare. It intends to collaborate with the private sector in the effort. This formed part of President John Dramani Mahama's rapid industrialisation for job initiative, and the ministry was promoting strategic value addition to revive deformed industries and scale up production for both domestic and international markets, she told the second edition of the Kwahu Business Forum at Mpraeso in the Kwahu South district of the Eastern Region. The Forum is a major government initiative to foster entrepreneurship and support the growth of domestic small and medium enterprises (SMEs). Ghana plans to set up three garment units, each capable of offering 3,000 jobs per shift, creating 27,000 jobs under the 24-hour Economy Policy, according to the country's Minister of Trade, Agribusiness and Industry Elizabeth Ofosu-Adjare. It intends to collaborate with the private sector in the effort. A top priority this year is to pass the Business Regulatory Reform Commission Bill, she said. This year's Forum stressed the importance of aligning the nation's financial systems with national development priorities to support entrepreneurship, industrialisation and inclusive economic growth, she was cited as saying by domestic media outlets. A top priority this year is to pass the Business Regulatory Reform Commission Bill, which would institutionalise reforms, mediate public-private sector concerns and enforce regulatory impact assessments, she added. She would be leading a high-powered private sector delegation to China to pursue targeted business-to-business (B2B) engagement. Fibre2Fashion News Desk (DS)
