In a bold move to restore Ghana’s once-thriving textile and garment industry, Development Bank Ghana (DBG) has unveiled a comprehensive strategy aimed at revitalizing the sector through strategic financing, policy reform, and public-private collaboration.
Speaking at a policy dialogue co-hosted with the Association of Ghana Industries (AGI), Acting CEO Dr. Randolph Nsor-Ambala confirmed DBG’s commitment to reversing the dramatic decline of the industry, which has seen direct employment shrink from 25,000 workers in the 1970s to just 6,000 by 2020.
“This is a call to action rather than a conclusion,” Dr. Nsor-Ambala stated, pointing to decades of structural challenges, including smuggled imports, weak customs enforcement, and fragmented incentives that have undermined local manufacturers.
DBG’s revival initiative includes:
- Identifying five bankable textile projects with partner financial institutions.
- Conducting a sector-wide feasibility study to map out value chain bottlenecks.
- Evaluating technical assistance needs for targeted business support.
These findings will feed into a robust industry blueprint that pairs long-term lending with capacity-building programs, designed to attract investment and rebuild industrial capacity.
AGI President Dr. Humphrey Kwesi Ayim Darke emphasized the urgency of establishing stable export incentives, noting that private sector interest remains high, contingent on improved policy conditions.
Industry experts at the forum highlighted wax-print production in Tema and cut-and-sew operations in Accra as high-potential areas for growth and youth employment. The Ghana Free Zones Authority is also actively seeking foreign partnerships, as demonstrated by recent negotiations with Asian apparel giant Yintak Intex.
Together, these coordinated efforts reflect a renewed institutional drive to reclaim Ghana’s competitiveness in global textile markets while addressing the systemic issues that led to the sector’s decline.
“If executed effectively, this initiative could reposition Ghana not only as a regional hub for textile manufacturing but also as a model for industrial recovery in Africa,” Dr. Nsor-Ambala concluded.
