Mr. James Bruce, Executive Director of Wholesale Banking at Access Bank, has said that Ghana has a unique opportunity to position itself as a global manufacturing hub, due to lower U.S. import tariffs under the African Growth and Opportunity Act (AGOA).
Mr. Bruce pointed out that while goods exported from Asian countries such as China, Vietnam, and Taiwan face U.S. tariffs as high as 60%, Ghanaian exports are subject to just a 10% duty. This tariff disparity, he said, presents a major competitive advantage that Ghana must seize.
“If you’re an investor looking to export to the U.S., it will be significantly cheaper to produce in Ghana, the opportunity for Ghana to attract production from Asia is enormous. We must make ourselves ready. The risks are minimal compared to the upside,” he said.
Under AGOA, eligible African countries receive preferential access to U.S. markets for thousands of products, giving them an edge over traditional manufacturing powerhouses facing higher trade barriers.
Mr. Bruce emphasized that Ghana could attract manufacturing firms relocating operations to reduce export costs. By offering a more favorable tariff regime, Ghana can become a gateway for goods destined for the U.S. market.
To capitalize on this, he stressed the need for strong collaboration between the government, the private sector, and financial institutions. “This is a window Ghana cannot afford to miss,” he said.
The Access Bank executive director also noted that building local capacity will be key. The bank is working with partners such as the Development Bank Ghana and the MasterCard Foundation to prepare local SMEs to support and benefit from incoming manufacturing investments.
“This is not just about tariffs, but it’s about readiness we need to ensure Ghana has the infrastructure, skilled workforce, and financial systems in place to absorb and scale this opportunity,” he added.
With global supply chains shifting and trade policies tightening, Ghana’s preferential access to U.S. markets under AGOA could become one of its most valuable economic assets in the years ahead.
