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General News of Tuesday, 6 May 2025

    

Source: www.ghanawebbers.com

Ghana’s non-traditional exports projected to hit $10bn annually by 2030

President John Dramani Mahama has announced the creation of the Accelerated Export Development Committee (AEDC). This committee aims to increase Ghana’s non-traditional export earnings from $3.5 billion to $10 billion annually by 2030.

The AEDC is an 18-member presidential committee. It was inaugurated as part of a strategy to boost foreign exchange and stimulate economic growth. President Mahama emphasized the committee's important role in coordinating export development efforts.

At the inauguration on May 5, 2025, he stated, “The AEDC serves as a high-level platform for strategic coordination.” He added that their strategy is ambitious but deliberate.

Under the Accelerated Export Development Programme, Ghana plans to prioritize value addition and economic diversification. Currently, exports mainly consist of low-complexity raw materials like gold and cocoa. “We must change this narrative,” President Mahama said.

He also highlighted the government's commitment to modernizing ports for better trade efficiency. Ghanaian exporters face high logistics costs and long clearance times compared to other West African countries.

To address this, the government will modernize ports and improve transport infrastructure. Plans include revamping the Volta Lake Transport Company and developing Mpakadan Port. They will also operationalize Bankra Inland Port and expand cold chain infrastructure for fisheries and horticulture.

These improvements are essential for better transportation, reducing spoilage, and enhancing competitiveness for producers in remote areas.