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Business News of Tuesday, 18 March 2025

    

Source: www.ghanawebbers.com

A giant in decline: The lost promise of the Tema PSC Shipyard

The Tema PSC Shipyard, once a beacon of maritime potential in Ghana, now faces significant challenges that have led to its decline. Established with the vision of becoming a leading shipbuilding and repair facility in West Africa, the shipyard's promise has been overshadowed by years of neglect and underinvestment. Once bustling with activity, it now struggles with outdated equipment and insufficient maintenance capabilities.

The decline can be attributed to various factors, including mismanagement, lack of government support, and competition from more modern facilities abroad. As local demand for shipping services grows alongside Ghana's expanding oil sector, the shipyard remains ill-equipped to meet these needs. Experts warn that without a strategic revival plan focusing on modernization and workforce training, the facility risks becoming obsolete.

Stakeholders emphasize the urgent need for revitalization efforts to restore the shipyard’s former glory. Reinvigorating this critical infrastructure could not only enhance local job creation but also bolster Ghana's position as a key player in the regional maritime industry.