'Factories operating at scale': Mahama targets energy reform for industrial growth
President John Dramani Mahama has announced plans to introduce off-peak electricity tariffs for industry as part of efforts to cut production costs and strengthen the competitiveness of Ghana’s manufacturing sector.
The proposed measure forms a key component of the government’s renewed industrialisation drive and seeks to address longstanding concerns by businesses over high power costs.
Speaking at the Presidential Dialogue with the Private Sector on February 23, 2026, Mr Mahama said reforms to energy pricing would be central to positioning Ghana as a production hub in West Africa.
He noted that industrial electricity tariffs in Ghana remain uncompetitive compared with those of neighbouring countries and warned that sustained industrial expansion cannot occur under conditions of high and unreliable power supply.
Mr Mahama explained that the proposed off-peak tariff regime would enable manufacturers to benefit from reduced electricity rates during periods of lower demand, particularly at night, thereby encouraging round-the-clock operations.
The policy is expected to complement the government’s 24-hour economy agenda, which aims to boost productivity by enabling factories to operate multiple shifts.
In addition to tariff reforms, the President said the government would restructure energy-sector debt, expand power generation, particularly from renewable sources, and strengthen transmission infrastructure to ensure a stable electricity supply.
He described comprehensive energy reform as indispensable to Ghana’s industrial transformation.
The dialogue brought together senior government officials, industry leaders, and business executives to review the state of the economy and identify practical measures to stimulate private-sector growth.
Beyond energy, Mr Mahama cited limited access to affordable financing, land constraints and unfair trade practices as major obstacles to industrial expansion.
He indicated that the government would collaborate with the Bank of Ghana and other financial institutions to develop tailored financing windows for manufacturers and expand credit support schemes for small and medium-sized enterprises.
On trade, he warned that smuggling, under-declaration and the influx of counterfeit goods were undermining local industries and would be treated as economic crimes, with tougher enforcement measures to follow.
Mr Mahama also reiterated plans to strengthen domestic production in sectors such as agro-processing, pharmaceuticals, textiles and steel, describing them as strategic pillars for job creation and value addition.
Urging a stronger partnership between the state and industry, he called on businesses to scale up production, generate employment and invest in skills development, while the government works to ensure policy stability and an improved business environment.
“The Ghana we seek will not be built by speeches,” he said. “It will be built by factories operating at scale.”