Business News of Wednesday, 22 January 2025

Source: mynewsgh.com

Ghana's $500 million annual sugar imports must end – Trade minister-designate

Elizabeth Ofosu-Adjare is the Minister of Trade, Agribusiness and Industry-designate play videoElizabeth Ofosu-Adjare is the Minister of Trade, Agribusiness and Industry-designate

The Minister-designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has emphasized her commitment to reviving the Komenda Sugar Factory.

During her vetting before the Appointments Committee of Parliament on January 22, 2025 she highlighted the factory’s current state of dormancy, citing issues such as a lack of raw materials, missing parts, and unresolved operational challenges.

“I have been told that, as we speak, the Komenda Sugar Factory is not operational. One of the major challenges the factory has faced is the lack of raw materials to feed the industry, as well as some missing parts,” she noted, addressing the long-standing issues plaguing the factory.

The Komenda Sugar Factory, established with significant national investment, was intended to reduce Ghana’s reliance on sugar imports and create employment opportunities.

However, since its commissioning in 2016, the factory has grappled with operational challenges, resulting in intermittent closures.

Ghana continues to import approximately $500 million worth of sugar annually—a reality the minister-designate considers unsustainable.

“It’s obvious we need that factory to work for the benefit of Ghanaians because we are importing about half a billion dollars' worth of sugar into the country,” she explained, stressing the economic implications of the factory’s inactivity.

Ofosu-Adjare also revealed that funds had previously been allocated to address the factory’s challenges, though the current state of the facility remains unclear.

“I have also been told that monies were released to solve these problems. A full evaluation of the factory’s overall health needs to be conducted, and I will work to ensure we determine the exact condition of the factory,” she said, signaling her intention to prioritize a thorough assessment.

Once in office, the minister-designate pledged to collaborate with relevant stakeholders to restore the factory to full functionality.

“I will work with the ministry to assess the factory’s health and ensure that Ghana benefits from this monumental project,” she concluded.