B5 Plus Ltd: Transforming Ghana’s Steel Industry and Driving Economic Growth Through 1D1F Initiative

B5 Plus Ltd, a key participant in the One-District, One-Factory (1D1F) initiative, has significantly boosted employment opportunities for over 10,000 individuals with diverse educational backgrounds since the inauguration of the first phase of its modernized steel plant in 2021. Operating with an impressive capacity of 250,000 tonnes for its rolling mill and 60,000 tonnes per year for its prefabricated manufacturing plant, the company not only caters to the Ghana market, but also exports a substantial portion of its products to neighboring West African countries. This export initiative has played a crucial role in saving the country approximately $100 million in foreign exchange, contributing significantly to economic stability and growth.

During a recent working visit to the new plant site in Larpleku, Kpone-Katamanso District, Greater Accra Region, Minister of Trade and Industry, K. T. Hammond, commended the modern production technology and methods employed by B5 Plus. He highlighted the company’s success as a testament to the achievements of the government’s 1D1F initiative, showcasing a model worthy of emulation by other countries aiming to decentralize industrial development. Minister Hammond emphasized the importance of local production in iron and steel for the country’s industrial transformation agenda, focusing on value addition through local raw materials, mass employment, and export diversification.

Sectors such as real estate, construction, and metal fabrication have reaped the benefits of B5 Plus’ products, contributing to sustainable development in Ghana. The Minister, overwhelmed by the scope of the project, expressed his profound impression with the progress made. He assured the company of continuous government support and addressed challenges related to water supply and power generation to mitigate production impacts and cost overruns.

Mukesh Thakwani, the CEO of B5 Plus Ltd, highlighted the company’s decision to invest in expanding and modernizing the factory to accelerate socio-economic development and increase job opportunities. With an investment of $100 million, the fully automated steel manufacturing plant, certified with ISO 9001:2015 quality management standards, is one of the largest in Africa. Thakwani underscored the potential of the plant to bridge the gap between local steel production and demand.

B5 Plus Ltd, seizing the opportunity presented by the 1D1F initiative, invested in expanding capacity, technology, and production lines. The company, which began as a small operation in 2002, now stands as the largest iron and steel manufacturer and exporter in Ghana and West Africa. Mukesh Thakwani emphasized the positive impact of the African Continental Free Trade Area (AfCFTA) in addressing challenges associated with trading across borders in Africa.

The first phase of the plant, situated on a 100-acre land, includes a steel melting shop (SMS), a rolling mill, and a prefabricated manufacturing plant. B5 Plus Ltd sources raw materials, such as scrap metals and ingots, from both local and foreign markets, building an extensive network of wholesalers, dealers, and distributors across multiple West African countries. The company currently produces 4,000 different lines of products for the West African market, including wire rods, rebars, sections, angles, channels, U beams, round bars, square bars, and grinding media balls, reflect its commitment to meeting local and regional market demands.

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