Ghana’s strategic shift toward exporting processed commodities instead of raw materials will strengthen the country’s balance of payments, expand industrial capacity, and create opportunities for small and medium enterprises, according to Peter Ewuah, Technical Director at the Ministry of Lands and Natural Resources.
The diversification strategy focuses on three key sectors: processed cocoa, lithium beneficiation, and gold refining. Mr Ewuah explained that the plan represents a fundamental departure from Ghana’s historical dependence on raw material exports toward building a sustainable industrial foundation capable of generating stable foreign exchange earnings and quality employment.
Mr Ewuah emphasized that diversifying exports will stabilize the cedi, improve foreign exchange liquidity, and create opportunities for small businesses supplying inputs to major processors and refineries. He noted these outcomes prove critical to Ghana’s long term economic resilience.
The government aims to raise cocoa processing from approximately 40 percent to 60 percent over the next five years. Ghana currently processes around 40 percent of its cocoa beans domestically, with officials expressing confidence in reaching the 50 percent target.
Mr Ewuah revealed that the Ministry collaborates with the Ghana Cocoa Board (COCOBOD) and private sector partners to modernize cocoa factories, improve access to finance, and enhance export competitiveness for Ghana-made chocolate and semi-finished products. He explained that every tonne of cocoa processed domestically adds significantly to foreign exchange inflows while generating employment in packaging, logistics, and marketing.
The renewed emphasis on value addition aligns with objectives of the National Export Development Strategy (NEDS), which seeks to diversify export products and markets for sustainable economic growth.
Ghana plans to position itself as a major player in the global clean energy supply chain through lithium refining. Mr Ewuah disclosed that the government finalizes frameworks ensuring all lithium mined in Ghana undergoes some processing locally before export.
A consortium led by CAA Mining Ltd plans to establish a $500 million lithium refinery in Takoradi, with the facility expected to begin operations in 2026. The first lithium refinery will produce battery grade lithium hydroxide for export to Europe and Asia, according to Mr Ewuah. He stated this development will open manufacturing opportunities and attract technology based investments.
Mr Ewuah emphasized that Ghana intends to participate in the green energy transition not merely as a miner but as a manufacturer. He noted that the world’s shift toward renewable energy creates strategic opportunities for Ghana to capture value in the battery supply chain.
Plans are underway to expand Ghana’s gold refining capacity to ensure at least half the country’s annual gold output receives domestic refinement. The Precious Minerals Marketing Company (PMMC), working with private investors, leads the initiative to increase refinery and hallmarking capacity.
Mr Ewuah explained this expansion will improve transparency, retain value locally, and reduce export leakages that have historically cost Ghana millions in lost revenue. The gold refining push complements broader efforts to maximize returns from Ghana’s mineral wealth.
Mr Ewuah stressed that export diversification success depends heavily on small and medium enterprises supplying inputs and services to major processors and refineries. From equipment servicing and transportation to packaging, quality control, and logistics, these local firms will form the backbone of a more inclusive industrial ecosystem.
He emphasized that export diversification extends beyond large corporations to empowering small businesses to thrive within an expanded value chain. Mr Ewuah noted that diversifying exports will stabilize the cedi, improve foreign exchange liquidity, and strengthen Ghana’s balance of payments over time.
Mr Ewuah projected that Ghana’s focus on processed cocoa, refined gold, and lithium beneficiation could transform the nation’s export landscape within a decade. He suggested successful implementation could double non-traditional export revenues, reduce unemployment, and boost investor confidence in Ghana’s industrial capacity.
The Technical Director added that the Ministry remains committed to facilitating partnerships, policy reforms, and infrastructure development to drive this transformation. Mr Ewuah’s vision reflects broader government priorities to move Ghana up the value chain and reduce vulnerability to commodity price fluctuations.
Ghana’s diversification strategy faces implementation challenges including infrastructure gaps, financing constraints, and technical capacity requirements. Economic analyses suggest lithium refining faces obstacles including limited feedstock access, high costs compared to global competitors, and excess refining capacity in China.
However, Mr Ewuah maintained that with proper planning, stakeholder collaboration, and sustained investment, Ghana can establish itself as a value-added exporter rather than continuing as primarily a raw material supplier. The strategy’s success will determine whether Ghana breaks its historical pattern of exporting unprocessed resources while importing finished products.