President John Dramani Mahama has inaugurated the expanded B5 Plus Limited Steel Plant at Lakpleku in the Ningo-Prampram District, reinforcing Ghana’s push toward industrialisation and reduced reliance on steel imports.
The President reaffirmed government’s commitment to creating a favourable manufacturing environment through strategic policy reforms, anchored by the flagship 24-hour Economy initiative — of which B5 Plus is a key participant. Backed by a GH¢110 million allocation in the 2026 budget, the initiative is designed to enable factories to operate three shifts daily, boosting productivity and employment.
President Mahama highlighted policy support measures including a reduction in the effective corporate tax rate from 21.9% to 20%, digital revenue monitoring to curb leakages, and reliable, affordable gas supply to power continuous industrial operations.
He stressed the strategic link between mining and steel production, noting that Ghana’s gold, manganese, oxide and lithium sectors require substantial steel inputs for processing and structural development. Strengthening domestic steel capacity, he said, is essential to integrating mining and manufacturing into a coordinated industrial ecosystem.
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, reiterated government’s resolve to remove bottlenecks to growth. She cited the ban on non-ferrous scrap exports to prioritise local manufacturers, the extension of export proceeds repatriation from 60 to 120 days in collaboration with the Bank of Ghana, and ongoing efforts to address trade barriers under AfCFTA.
In his remarks, Mukesh V. Thakwani, Chairman of B5 Plus, described the expansion as a major step in deepening value addition in Ghana’s mining and construction sectors. He emphasised that the project’s civil works, structural fabrication and installations were executed by Ghanaian engineers and technicians, strengthening local capacity.
With the expansion, B5 Plus now operates the largest Pre-Engineered Building facility in West Africa and the second largest in Africa. The company employs more than 15,000 Ghanaians directly and indirectly and has been a consistent member of the Ghana Club 100 for over a decade.
President Mahama concluded that sustained industrial transformation requires stable macroeconomic management, private sector confidence, infrastructure investment and skilled labour — adding that Ghana is firmly on that path.
