Thursday, October 16, 2025
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
No Result
View All Result

Textile and garment industry poised for $2 billion boost by 2033

Textile and garment sector set for significant growth, driving a $2 billion market expansion by 2033

Kojo Emmanuel by Kojo Emmanuel
August 8, 2025
in Business
0
Textile garment industry
Share on FacebookShare on Twitter

The government has unveiled an ambitious plan to grow the country’s textile and garment industry by $2 billion by the year 2033 as part of a broader agenda to boost industrialisation, create jobs, and increase non-traditional exports.

Speaking at a stakeholder engagement forum in Accra, the Deputy Minister of Trade and Industry, Samson Ahi, announced that the initiative will focus on value addition, infrastructure development, skills training, and stronger linkages with international markets.

You might also like

Gold Fitch

Ghana’s recovery hinges on gold, faces high risk – Fitch

October 14, 2025
Fidelity Bank sector

Fidelity Bank backs sustainable financing for power sector

October 14, 2025

The plan is expected to position the textile and garment sector as a key driver of economic growth over the next decade.

He said “We aim to scale the industry to a value of over US$2 billion, attract US$1.2 billion in new investments, create 150,000 jobs, and ensure quality cotton production across 50,000 hectares of farmland.

“These objectives are ambitious, but they are achievable through collective effort. Today’s workshop is not just about reviewing a document; it is about setting a shared roadmap that will shape the future of the industry.”

Currently valued at an estimated $400 million, the sector faces challenges ranging from limited production capacity and outdated machinery to competition from imports and underdeveloped local supply chains.

The new strategy aims to address these bottlenecks through a combination of public-private investments, tax incentives, and targeted support for small and medium enterprises (SMEs) operating in the value chain.

According to ministry projections, the initiative could generate over 250,000 new jobs by 2033, especially for women and youth, while significantly improving foreign exchange earnings.

A key component of the plan is to revive dormant textile factories, expand access to finance, and establish industrial parks specifically designed for garment manufacturing.

The government also plans to leverage the African Continental Free Trade Area (AfCFTA) to expand regional market access for locally made garments.

The Ministry of Trade and Industry is expected to release a detailed implementation roadmap by the end of the year, outlining timelines, performance indicators, and partnership frameworks.

Post Views: 385
Tags: AfCFTAAfrican Continental Free Trade AreaSamson Ahi
Kojo Emmanuel

Kojo Emmanuel

Related Stories

Gold Fitch

Ghana’s recovery hinges on gold, faces high risk – Fitch

by NewsCenta
October 14, 2025
0

Ghana’s fragile economic recovery could be derailed if global gold prices fall, according to a new report by Fitch Solutions,...

Fidelity Bank sector

Fidelity Bank backs sustainable financing for power sector

by NewsCenta
October 14, 2025
0

Fidelity Bank Ghana has positioned the structural challenges facing the country’s energy sector as a critical national imperative that demands...

Cedi World Bank

World Bank names Ghana’s Cedi Africa’s top currency for 2025

by Kojo Emmanuel
October 14, 2025
0

Ghana’s currency, the cedi, continues to distinguish itself as Africa’s top-performing currency in 2025, the latest World Bank Africa Pulse...

Buy MoMo

‘Buy now, pay later’ is next frontier for digital finance — MoMo Chief

by NewsCenta
October 14, 2025
0

Chief Commercial Operations Officer of MobileMoney LTD (MoMo), Abdul Razak Issaka Ali, has called for a redefinition of digital financial...

Recommended

IFS rice

Ghana sitting on 35m-tonne rice potential — IFS

October 16, 2025
Mahama Market Theatre

Mahama secures ¥200m Chinese grant for Aflao Market and National Theatre

October 16, 2025
Court wife

Lumba’s legal wife:  Court adjourns case to October 28

October 16, 2025

Popular Story

  • Songs Daddy Lumba

    See the list of over 200 songs Daddy Lumba released

    744 shares
    Share 298 Tweet 186
  • The true story behind Ghana’s acceptance of deportees

    719 shares
    Share 288 Tweet 180
  • Gold-backed policies since 2021 driving economic gains — BoG

    715 shares
    Share 286 Tweet 179
  • 10 of top 11 causes of death killing more men in Ghana

    700 shares
    Share 280 Tweet 175
  • Bissue floors High Court and OSP at Supreme Court

    691 shares
    Share 276 Tweet 173
NewsCenta

Newscenta is a Ghana-based news organisation publishing in print (The Newscenta Newspaper) and on a digital media platform (newscenta.com) dedicated to delivering timely and impactful news across various sectors, including politics, business, economy, technology, and culture.

  • About Us
  • Contact Us
  • Health
  • Education
  • Mining
  • Energy
  • Telecoms
  • Agriculture
  • Opinion
  • Trade
  • Newspaper Headlines

© 2025 All Rights Reserved NewsCenta.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Newspaper Headlines
  • Business
  • Agriculture
  • Education
  • Sports
  • Tech
  • Opinion

© 2025 All Rights Reserved NewsCenta.

Connect with us