Ningo (GAR), Feb. 20, – President John Dramani Mahama has announced that the Government’s decision to prohibit the export of non-ferrous scrap metals is projected to generate between $250 million and $300 million annually in processed metal exports.
He said the policy would stimulate domestic industrial production, create between 5,000 and 10,000 jobs, and significantly enhance tax revenue through value-added tax, corporate income tax and pay-as-you-earn contributions.
The President made the remarks at Lakpleku in the Ningo-Prampram Municipality during the commissioning of Phase Two of the B5 Plus Limited expansion project. The newly inaugurated facilities include a Steel Ball Plant, Section Mill and PEP Extension Manufacturing units.
President Mahama observed that although Ghana produces considerable volumes of scrap metal from construction, vehicle imports, demolition and other industrial activities, much of it has historically been exported in raw form. He stressed that retaining non-ferrous scrap for local processing would guarantee manufacturers steady access to raw materials and help move Ghana up the industrial value chain.
“We are exporting finished and semi-finished products, not raw scrap,” he stated, underscoring government’s focus on value addition.
The President praised B5 Plus Group for its contribution to national revenue, noting that the company had paid over $300 million in taxes and was on course to exceed $500 million in the near future.
He indicated that steel produced locally could meet growing demand across ECOWAS markets, including infrastructure projects in the Sahel and mining and cement industries throughout West Africa. Rather than relying on imports from Asia and Europe, he said, the sub-region could increasingly source competitively from Ghana.
President Mahama linked the initiative to the Government’s Big Push Infrastructure Programme, which includes investments in roads, railways, bridges, energy transmission, housing and industrial parks — all of which require substantial steel inputs. With Africa’s infrastructure demand projected to exceed $100 billion annually, he said a strong domestic steel base would position Ghana as a regional supplier.
He also highlighted the relevance of the 24-Hour Economy Programme to energy-intensive sectors such as steel manufacturing, noting that he had signed the 24-Hour Authority Bill into law a day earlier. He expressed confidence that B5 Plus would be among the first companies to enrol under the initiative.
Continuous production, he explained, reduces energy wastage, improves efficiency, lowers unit costs and maximises capital utilisation. Government, he added, is supporting industry through industrial tariff reforms, improved grid reliability and expanded domestic gas supply.
An allocation of GH¢110 million in the 2026 Budget to operationalise the 24-Hour Initiative demonstrates government’s commitment to boosting productivity, he said, adding that multi-shift factory operations would translate into higher employment and export growth.
On fiscal policy, President Mahama outlined measures introduced in the 2026 Budget to ease the burden on manufacturers, including the abolition of the COVID-19 Health Recovery Levy and a reduction in the effective VAT rate from 21.9 per cent to 20 per cent. He also referenced digital VAT monitoring systems and ongoing reviews of income tax, customs and excise regimes to enhance predictability and reduce compliance costs.
Mr Mukesh Thakwani, Founder, Chairman and Chief Executive Officer of B5 Plus Group, announced plans to construct a police station and a basic school for the Lakpleku community as part of the company’s corporate social responsibility initiatives. He appealed to Samuel Nartey George, Member of Parliament for Ningo-Prampram, to assist in securing land for the projects.
GHBUSS
February 20, 2026
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