By Laudia Anyorkor Nunoo, GNA
Tema, Oct. 8, GNA — President John Dramani Mahama has said that Tema is regaining its industrial glory days, citing renewed investment, expanding industries and ongoing efforts to restore key industrial assets in the city.
President Mahama said the developments were an indication of growing confidence in Ghana’s investment climate and demonstrated the return of Tema to its position as a major centre of industrial activity.
The President, at the commissioning of a newly upgraded production line at Nestlé Ghana Limited’s factory in Tema, said the expansion by Nestlé was among several developments signalling renewed industrial activity in the Tema enclave.
“I am pleased to say that Tema is regaining its glory days,” President Mahama said, pointing to the expansion of the Tema Port, efforts to revive the Tema Oil Refinery, work towards restoring VALCO and progress within the industrial enclave.
He said many industries operating in the Tema enclave, including Nestlé, were expanding their production because the investment climate was improving.
President Mahama stated that foreign direct investment had increased from $624 million in 2024 to $2.62 billion in 2025, while interest rates had fallen between nine and 13 per cent.
He said inflation had declined to about 5.2 per cent, while the cedi had regained strength and was performing relatively well.
The President said the improvement in the economic environment was important because stability was ultimately reflected in the decisions businesses made about whether to expand their operations.
“I do not recite these figures for their own sake because stability is not a number in the report. It is the difference between a company that tells an expansion and one that decides to go forward with an investment,” he said.
President Mahama said Tema remained central to Ghana’s industrial ambitions, recalling that it was the city where the country’s founding President, Dr Kwame Nkrumah, established the industrial foundations of the young republic.
He said the city continued to provide a visible representation of Ghana’s industrial aspirations.
“Tema is the city where our founding father, Dr Kwame Nkrumah, planted the industrial ambitions of a young republic, and it still remains the place where that ambition is most visibly at work,” he said.
He said the ongoing developments in the city, together with the expansion of existing industries, were helping to restore Tema’s role as an important industrial and economic hub.
The President said the commissioning of the Nestlé production line was therefore significant beyond the company itself, as it formed part of a broader resurgence of industrial activity in Tema.
The new production line replaces one that had served the Nestlé factory for more than 30 years and has an annual production capacity of nearly 30,000 tonnes, compared with about 12,960 tonnes from the previous line.
President Mahama said the increased production capacity would strengthen local manufacturing, with products such as Ideal Milk being filled, homogenised, sterilised and packaged in Ghana by Ghanaian workers.
He said the development was consistent with the objectives of the government’s 24-hour economy initiative.
The President also welcomed Nestlé’s continued investment in Ghana, describing the company as a “Ghanaian institution” whose products had become household names over the years.
He said the company’s decision to expand its operations demonstrated confidence in Ghana’s economic prospects.
GNA
Edited by Benjamin Mensah
Reporter: Laudia Anyorkor Nunoo, GNA
Email address: [email protected]
08 Oct 2026