Government to invest US$1bn in textile and garment industry – Ato Forson

Finance Minister Dr Cassiel Ato Forson announced a US$1 billion investment to revitalize Ghana's textile and garment industry, aiming to position it as a competitive manufacturing hub for global fashion markets. The initiative, part of the government's 24-Hour Economy and Accelerated Export Development Programme, seeks to boost local production, export volumes, and job creation.

Dr Forson detailed the plan during the presentation of the 2027 Budget Statement and Economic Policy to Parliament on November 12. The program will prioritize modernizing existing textile mills, expanding garment factories, and constructing industrial zones tailored for textile and garment production, equipped with vital infrastructure such as reliable power supply, industrial water, labs, warehouses, treatment facilities, and factory buildings.

These enhancements will aid manufacturers in cutting production costs and accommodating large orders. Additionally, the government will provide support to local fashion designers, tailors, and dressmakers through the provision of modern equipment, technical guidance, and commercial partnerships, facilitating their access to regional and international markets.

Dr Forson emphasized that the investment will foster a competitive local industry, capable of producing fabrics, garments, and Ghanaian fashion brands for global markets, with the ultimate goal of making Made-in-Ghana fashion a household name worldwide and generating stable incomes for Ghanaian households. The government intends to commence industrial enclave development and upgrade key facilities in 2027, with the aim of commencing operations in 2028.

By 2030, the goal is to establish a fully operational textile and garment industry operating at commercial scale and supplying to broader international markets.