Uncategorized

Pres to launch $1.5bn Free Zones Industrial Park tomorrow


President John Dramani Mahama will tomorrow officially launch Africa’s largest Free Zones Industrial Park, the $1.5 billion Gomoa Central Special Economic Zone (GCSEZ), in the Central Region.

The project represents a major milestone in Ghana’s drive toward large-scale industrialisation and regional trade integration under the African Continental Free Trade Area (AfCFTA).

Located on a 21,000-acre site in the Gomoa Central District, the project is expected to create more than 60,000 jobs, attract billions in private investment, and transform the area into a major hub for manufacturing, agro-processing, logistics, and export services.

President Mahama (right) and Grenada’s Prime Minister, Dickon Mitchel looks on as Mr Okudzeto Ablakwa and his counterpart sign the MoU

Supported by the Ghana Free Zones Authority and the AfCFTA Secretariat, the initiative forms part of the government’s 24-Hour Economy agenda, which aims to boost productivity beyond the traditional working day.

Other dignitaries expected to grace the occasion include Mr Alban Bagbin, Speaker of Parliament; Goosie Tanoh, Presidential Advisor on the 24-Hour Economy; Dr Sam Jonah, Executive Chairman of Jonah Capital; Krobo Edusei Jnr., Executive Chairman of Safebond Africa Investment Group; Kwame Asare Obeng, Member of Parliament for Gomoa Central; and Albert Dwumfour, President of the Ghana Journalists Association.

The Gomoa Industrial Park is designed to anchor Ghana’s transition from an import-dependent economy to a production and export-oriented one.

By clustering industries and providing modern infrastructure, including roads, utilities, warehousing, and digital connectivity, the park seeks to reduce operational costs and promote value addition across agriculture, manufacturing, and services.

At full operation, it is projected to generate billions in export earnings, support local suppliers, and drive inclusive growth across the Central Region and beyond.

The project also aligns with the AfCFTA framework, granting manufacturers access to a continental market of over 1.3 billion people.

Gomoa Central Member of Parliament, Kwame Asare Obeng, described the project as transformative, saying, “This is a complete ecosystem where sustainability and profitability thrive together.”

He added that the zone’s renewable energy infrastructure would ensure “some of the lowest operational costs in the region,” while its strategic location provides access to multiple ports and the Lagos-Abidjan Corridor.

Despite the optimism surrounding the project, analysts cautioned that its success would depend on Ghana’s cost structure and business environment.

BY TIMES REPORTER

🔗 Follow Ghanaian Times WhatsApp Channel today. https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
🌍 Trusted News. Real Stories. Anytime, Anywhere.
✅ Join our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button