Ghana Aims 30% Steel Import Cut, $300M Scrap Export Boost

SEATTLE (Scrap Monster): President John Dramani Mahama has projected a 20–30% reduction in Ghana’s steel imports as the government accelerates domestic production and tightens controls on non-ferrous scrap exports, a move expected to generate up to $300 million annually from processed metal exports.

Speaking at the commissioning of the second-phase expansion of B5 Plus Limited’s SBMS plant, Mahama said Ghana’s steel demand exceeds 1.2 million metric tonnes per year, driven by construction, mining, energy and manufacturing. He noted that heavy reliance on imports has strained foreign exchange reserves and exposed the country to global price volatility.

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By expanding local capacity, Ghana could save hundreds of millions of dollars annually in forex while strengthening supply chains. The proposed restriction on raw non-ferrous scrap exports aims to secure feedstock for domestic processors, potentially creating 5,000–10,000 jobs across the metal value chain.

Mahama also confirmed assent to the 24-Hour Economy Authority Bill, backed by GH¢110 million in the 2026 budget to support round-the-clock industrial production. He said Ghana’s position as host of the AfCFTA Secretariat enhances opportunities for locally produced steel exports across West Africa.