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 sector. The initiative aims to create a competitive manufacturing hub that can supply global fashion markets. This move is part of the government's 24-Hour Economy and Accelerated Export Development Programme, targeting increased local production, higher exports, and job creation.

During the presentation of the 2027 Budget Statement and Economic Policy to Parliament on November 12, Dr Forson outlined the plan's focus on modernizing existing textile mills, expanding garment factories, and establishing industrial enclaves dedicated to textile and garment production. These enclaves will be equipped with essential infrastructure, such as reliable electricity, industrial water, laboratories, warehouses, treatment facilities, and factory buildings.

By addressing these needs, manufacturers will be able to reduce production costs and handle large orders more efficiently.

In addition to infrastructure support, the government will provide local fashion designers, tailors, and dressmakers with modern equipment, technical assistance, and commercial partnerships. This support aims to enable them to access regional and international markets, thereby boosting Ghanaian fashion brands worldwide. Dr Forson emphasized that the primary objective is to produce fabrics and garments that have the potential to find a place in wardrobes across the globe, while simultaneously creating stable incomes for Ghanaian families.

The government plans to commence the development of industrial enclave infrastructure and the modernization of key facilities in 2027. By 2028, new and upgraded production lines are expected to commence operations. By 2030, the government aims to establish a fully operational textile and garment industry capable of meeting the demands of global markets.