President John Dramani Mahama has commissioned Nestlé Ghana’s expanded evaporated milk production line at the company’s factory in Tema, marking a major milestone in Ghana’s manufacturing industry and industrial development.
The GH¢59 million factory modernisation project is expected to boost local milk production capacity, improve operational efficiency and strengthen the supply of Nestlé products to consumers in Ghana and other regional markets.
Speaking at the commissioning ceremony on Thursday, President Mahama emphasised the importance of macroeconomic stability, predictable fiscal policies, lower inflation, stable foreign exchange rates and a reliable electricity supply in attracting investment into Ghana’s economy.
He assured businesses and corporate investors that the government would continue implementing policies aimed at maintaining economic stability while improving critical infrastructure to support private sector growth and industrial transformation.
“Capital goes where it is safe, but it stays and expands where there is stability and supporting infrastructure,” the President stated.
He added that the government remains committed to providing reliable power and creating favourable economic conditions to encourage large-scale investments, expand local manufacturing and generate employment opportunities.
Nestlé Ghana Reaffirms Commitment to Local Manufacturing
Managing Director of Nestlé Ghana, Salome Azevedo, reaffirmed the company’s long-term commitment to Ghana, describing the new production line as a demonstration of confidence in the country’s economic potential and manufacturing sector.
She explained that the investment goes beyond expanding production capacity, highlighting Nestlé’s commitment to supporting local manufacturing and strengthening Ghana’s position as a key industrial centre in Central and West Africa.
According to Azevedo, the company believes Ghana will continue to play an important role in the future of regional manufacturing, trade and economic development.
Nestlé Announces Additional GH¢138 Million Investment
The newly commissioned evaporated milk production line builds on Nestlé Ghana’s earlier investment of GH¢175.4 million in its cereal production line.
The company has also announced plans to invest an additional GH¢138 million to double its Milo production capacity and install another evaporated milk production line.
These planned investments are expected to further increase manufacturing output, strengthen local production, improve supply capacity and reinforce Ghana’s position as a regional manufacturing hub.
The expansion also highlights the role of foreign direct investment, industrial modernisation and private sector partnerships in supporting Ghana’s economic growth.
As the government continues to pursue industrialisation and job creation, investments by companies such as Nestlé Ghana could contribute to employment opportunities, local value addition, business expansion and increased access to manufactured consumer goods across domestic and regional markets.
Source: newsthemegh.com