In a major move to transform Ghana into the "foundry of West Africa," President John Dramani Mahama has commissioned the Phase Two Extension of B5 Plus Limited at Lakpleku.
The expansion, which includes new Steel Ball, Section Mill, and PEP Extension manufacturing plants, marks a decisive shift in national policy: Ghana will no longer be an exporter of raw scrap, but a powerhouse of finished metal products.
The President used the occasion to announce that a strict ban on the export of non-ferrous scrap metal is now in full effect—a move projected to add up to $300 million to Ghana’s annual export earnings.
1. The Industrial Math: Jobs, Taxes, and Value
President Mahama outlined a "production-led" economic vision where waste is turned into wealth. By keeping scrap metal within the country, the government aims to fuel local factories that currently have the capacity but lack the raw material security.
| Impact Category | Projected Annual Gains |
| Export Revenue | +$250 million to $300 million |
| New Job Creation | 5,000 to 10,000 direct/indirect roles |
| B5 Plus Tax Contribution | Targeting over $500 million (Total Life-to-Date) |
2. Infrastructure as Industrial Strategy
The President linked the success of B5 Plus directly to his "Big Push" Infrastructure Programme. He argued that Africa’s $100 billion annual infrastructure deficit represents a massive market for "Made in Ghana" steel.
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Domestic Demand: Ghanaian steel will build the nation's new roads, bridges, railway modernizations, and affordable housing.
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Regional Hub: Instead of importing steel from Asia or Europe, West African neighbors (Sahelian projects, mining in Mali/Guinea, etc.) can now source competitively from Ningo-Prampram.
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Security of Supply: By banning raw scrap exports, the state ensures that local giants like B5 Plus have "priority access" to the inputs they need to run at full capacity.
3. The 24-Hour Economy: A Competitive Edge
In a significant update, President Mahama revealed that he had assented to the 24-Hour Economy Authority Bill only yesterday (Thursday, February 19, 2026). B5 Plus is expected to be one of the first heavy industries to register under the initiative.
"Steel production benefits from continuous operation to reduce energy wastage and lower unit production costs... when factories run three shifts instead of one, employment rises and productivity increases." — President John Mahama
Supporting the Shift:
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2026 Budget Allocation: GH₵110 million has been set aside to operationalize the 24-hour initiative.
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Energy Reforms: Dedicated industrial tariff reforms and improved grid stability are being rolled out to make night shifts affordable for manufacturers.
4. Tax Relief for Manufacturers
To lower the cost of doing business, the President highlighted two key fiscal reforms introduced in the 2026 Budget:
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VAT Reduction: The effective VAT rate has been slashed from 21.9% to 20%.
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Levy Abolition: The COVID-19 Health Recovery Levy has been completely abolished to provide immediate liquidity to businesses.
5. Corporate Citizenship
Mr. Mukesh Thakwani, CEO of B5 Plus Group, underscored the company’s commitment to the local community by pledging to construct a Police Station and a Basic School for the Lakpleku area. He appealed to the MP for the area, Hon. Sam George, to assist in securing the necessary land to begin these social interventions.
The Bottom Line
The commissioning of B5 Plus Phase Two is more than a factory opening; it is the physical manifestation of the 2026 "Reset." By combining raw material protectionism with 24-hour operational incentives, Ghana is betting that it can build its way out of economic uncertainty using its own iron and steel.
