THE 24-hour economy policy received a major boost following the sod-cutting for the construction of a new float glass manufacturing facility at Shama in the Western Region.
When completed, the glass factory is expected to produce about 1,400 tonnes of glass products daily.
The sod-cutting was done by President John Dramani Mahama alongside the inauguration of the fifth phase of a tile production line and a sanitary ware factory by Keda Ghana Limited here on Tuesday.
The total output of the tile production facility is expected to hit 200,000 square metres daily with the addition of the fifth phase.
In total, over 4,500 direct jobs are to be created within the three facilities and more than 15,000 indirect jobs along the value chain.
President Mahama, who performed the joint ceremony, said the projects aligned fully with Ghana’s national industrial strategy and the government’s broader objectives of the 24-hour economy policy.
According to him, the new facilities sent a signal that Ghana was ready to participate in the manufacturing and export space.
“This is not merely an expansion of factories. It is a statement to the world that Ghana is no longer content to be a consumer and importing economy. It is a statement that we are determined to produce, process, to manufacture and to export,” he announced.
With the global float glass market, valued at approximately US$60 billion annually, President Mahama noted that Ghana must not remain on the margins of that industry.
“We must bring some of that value into our country,” he mentioned.
The President disclosed that Ghana currently imports all of its glass products and in 2024 it spent US$25 million to import 65,000 tonnes.
“This factory is going to change that equation. It will reduce our glass imports, save us foreign exchange, strengthen supply chain reliability, and position Ghana as a major regional exporter of glass,” the President stated.
“At full capacity, the export earnings alone are projected to be US$100 million annually. This is how to build a strong economy. This is how to build a strong currency. Production underpins the value of currency. Not by circulation but by production and export,” he noted.
On the tile manufacturing facility, he disclosed that the company already exports to over 20 countries including the US, Italy, Peru, and Brazil amongst others.
“This is a demonstration that made in Ghana products can compete globally when quality meets skill,” he said, indicating that Keda Ghana, which had been operating in Ghana since 2016, last year alone paid GH¢740 million in taxes and was expected to pay more than GH¢1 billion when the new production lines come on stream.
Chairman of the Twyford Group, Shen Yanchang, commended President Mahama for the 24-hour economy policy stating that, “It sends strong signals to investors worldwide that Ghana is open for business…and enhances the global competitiveness of made in Ghana products.”
He cited Ghana’s enabling and stable political environment as the determining factor in investing in Ghana; Twyford’s single largest investment destination in Africa.
BY JULIUS YAO PETETSI, TAKORADI
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