Story by, Paul Mensah Nsor
Minister of Trade, Hon. Elizabeth Ofosu Adjare, launched the 30th anniversary celebration of the Ghana Free Zones Authority, highlighting three decades of significant economic impact. The event marked a pivotal moment in the country's industrial development, showcasing how the Free Zones program has attracted foreign investment, created jobs, and positioned Ghana as a competitive global trade destination.
Established 30 years ago through the Free Zones Act, the authority has been instrumental in promoting export-oriented industrialization. The minister announced an ambitious plan to transition from traditional Export Processing Zones to specialized economic zones, aiming to create integrated industrial hubs in sectors like agribusiness, pharmaceuticals, renewable energy, ICT, and logistics.
Key achievements include attracting foreign direct investment, facilitating technology transfer, and supporting non-traditional exports. Looking forward, the authority plans to expand nationwide, strengthen infrastructure, and leverage digital technologies to simplify business processes.
The anniversary theme, "Three Decades of Impact: Empowering Businesses, Transforming Trade in Ghana," reflects the organization's commitment to driving economic growth and creating opportunities for Ghanaian businesses and workers.
Speaking at the event, CEO Dr. Mary Awusi revealed impressive achievements, including licensing 339 enterprises, expanding exports from $145.4 million in 1997 to $2.25 billion in 2024, and creating 40,033 direct jobs, with numerous indirect employment opportunities also supported.
Licensing and Exports, GFZA has licensed 339 enterprises, contributing to a significant increase in exports, which have grown from $145.4 million in 1997 to $2.25 billion in 2024.
Job Creation, The authority has created 40,033 direct jobs and supported numerous indirect employment opportunities, making a substantial impact on Ghana's economy.
Infrastructure Expansion, GFZA has grown from a modest office to managing five Export Processing Zones, with plans to further expand its infrastructure and digital capabilities ¹.
Dr. Awusi emphasized GFZA's commitment to attracting investors, supporting national economic policies, and positioning Ghana as a leader in African industrialization. The authority is working to strengthen its role in promoting export-led industrial growth, particularly through the Africa Continental Free Trade Area Agreement (AfCFTA).
As part of its 30th-anniversary celebrations, GFZA will host,
Student Seminar, To engage and educate students on the role of free zones in Ghana's economic development.
Business Forum, A platform for businesses to discuss opportunities and challenges in the free zones sector.
Public Exhibition, Showcasing GFZA's achievements and promoting investment opportunities in Ghana's free zones.
Corporate Social Responsibility Projects, GFZA will undertake CSR projects to give back to the community.
Thanksgiving Service, A thanksgiving service to mark the milestone and express gratitude for the support received over the years.
GFZA's 30th anniversary represents not just a historical achievement but a recommitment to Ghana's industrial future, showcasing the country's potential for economic growth and international investment. With its focus on export-led industrialization and commitment to attracting investors, GFZA is poised to continue playing a vital role in Ghana's economic development.