Invest in Ghana’s Agriculture for good returns— Af­riyie Akoto to world leaders

Invest in Ghana’s Agriculture for good returns— Af­riyie Akoto to world leaders

A flagbearer hopeful of the New Patriotic Party (NPP), Dr Owusu Af­riyie Akoto, has appealed to leaders and captains of the industry to divert a chunk of their investments into Ghana and Africa’s agricultur­al sector for good returns.

Ghana and Africa, he noted, are the world’s biggest hope for global food security by 2050, hence an investment in the continent’s agricul­tural sector was the surest bet one could ever make on investment.

He, therefore, assured them of Ghana and for that matter the rest of Africa’s readiness to provide them with the conducive and enabling environment for their investment.

“Ghana and Africa are ready to receive your investment in this era of our agricultural trans­formation,” he noted.

Delivering a keynote address as the spe­cial guest of honour at the African Investors Council Forum in Turkey on Tuesday, under the theme ‘Agricultural Development and Investment Opportunities in Africa (Ghana as a case study)’, Dr Akoto said Ghana and Africa possessed the greatest potentials to feeding 9.7 billion people globally by 2050.

According to Dr Akoto, despite the impacts of COVID-19 and climate change on agri­cultural production as well as political unrest across the continent, macroeconomic instabili­ty, and the raging debt crisis that many African governments face, the agricultural sector offered immense and significant opportunities for transforming Africa’s economy from a net importer of food to the provider of food to the rest of the world.

According to analysis by McKsiney, if agricultural development gets the necessary financial investment, smallholders across Africa could produce two to three times more cereals and gains. In turn, this would add 20 per cent more cereals and grains to the current world­wide annual output of 2.6 billion tonnes.

Zeroing in on Ghana as the best destination of choice for investors, the former Food and Agricultural Minister highlighted the strong foundation he has laid for the West African nation’s agricultural sector, combining policies with regulations to achieve sustained rapid economic growth.

“Under my tenure as the Minister for Food and Agriculture in Ghana, in 2019, I initiated the establishment of the Tree Crop Develop­ment Authority under an Act of Parliament, Act 1010.

The Tree Crop Development Authority (TCDA), established in 2020, seeks to coordinate and promote the development of six tree crops – cashew, rubber, oil palm, coconut, mango and Shea.

The goal of the Authority is to develop, produce, and distribute the selected cash crop seedlings to farmers so as to produce and generate a combined poten­tial of export earnings between US$6 to US$12 billion per year after 8-10 years of implemen­tation.

At their full development, the additional US$6 to US$12 billion per year in earnings can substantially increase the less than US$2billion annual earnings from cocoa, the current high­est foreign exchange earner for Ghana for over a century,” he emphasised.

Dr Akoto further took his audience through the establishment of the National Cocoa Re­habilitation Programme which was designed to put in measures to support the private sector to scale up cocoa production, expand local cocoa processing, promote market expansion of the export of cocoa products into new markets and for vigorous promotion to boost domestic and international consumption.

He also spoke highly of the construction of greenhouse training centres with attached commercial units at Dawhenya, Akumadan and Bawjiase for the training of 537 youth in high-quality vegetable production.

Dr Akoto, who is also a former two-time Member of Parliament for Kwadaso in the Ashanti Region said for agriculture to ex­perience exponential growth in the African continent, much will depend on women who contribute to over 70 per cent of food produc­tion.

He, therefore, charged African governments to prioritise investing in women in the agricul­ture sector.


Joyceline Natally Cudjoe

An Entertainment Columnist, Content Writer, Blogger, Novelist, Poet, and a Publicist. For business or story tip off, contact me on +233 24 646 6866 or email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button