Thursday, 19 March

Afenyo-Markin warns over Ghana’s heavy reliance on gold, says agriculture at risk

Business
Lawyer, Effutu lawmaker, and Minority Leader Alexander Afenyo-Markin

Minority Leader Alexander Afenyo-Markin has sounded the alarm over what he says is inadequate government investment in Ghana’s agriculture sector, warning that the country’s long-term food security could be jeopardized.

Addressing officials from the World Bank, Afenyo-Markin acknowledged that agriculture continues to feature in policy discussions but stressed that this has not translated into meaningful financial support for farmers.

He highlighted the plight of maize and rice producers, who face persistently low prices while imported crops flood the market at cheaper rates, putting local farmers at a disadvantage.

The lawmaker also criticised the government’s reliance on gold reserves to stabilise the cedi, describing the strategy as unsustainable if domestic farmers do not receive fair compensation for their produce.

"Looking at the 2025 and 2026 budgets, we appreciate the ambition of the Agriculture Ministry. But investment in agriculture remains far too low. Government seems more focused on using gold to back the currency than on supporting our farmers. That bubble cannot last if farmers are not properly incentivised,” Afenyo-Markin said.

His remarks come as Ghana’s economic strategies face renewed scrutiny, with calls growing for a more balanced approach that strengthens both financial instruments and the country’s agricultural backbone.

Source: classfmonline.com