Tuesday, 17 February

Ghana targets diversification with major investment in cashew, coconut, rubber and shea

Business
The Presidenty (Pic):

President John Dramani Mahama has described Ghana’s tree crop sector as central to the country’s economic transformation agenda.

Speaking at the inaugural Ghana Tree Crops Investment Summit, the President emphasized that the event is “not merely ceremonial, but strategic.”

According to President Mahama, agriculture currently contributes about 21 percent to Ghana’s Gross Domestic Product.

Cocoa alone earns the country roughly two billion dollars annually and supports millions of livelihoods. However, he cautioned that climate shocks, global price volatility, and environmental pressures make diversification within the sector imperative.

The president identified six priority crops, the cashew, coconut, oil palm, rubber, mango, and shea as the backbone of Ghana’s diversification strategy.

Together, these crops employ more than 1.6 million Ghanaians, contribute about 2 percent to national GDP, and account for 4.5 percent of agricultural GDP, while sustaining rural economies and promoting gender inclusion.

President Mahama also announced a firm policy shift toward value addition.

The president further relaunched the 200 million dollar, Ghana Tree Crop Diversification Project, supported by the World Bank.

He said this programme will distribute 7.8 million cashew seedlings, 2.3 million rubber seedlings, and 3.9 million coconut seedlings to more than 30,000 farmers, directly benefiting over 52,000 households.

Additionally, 185 small and medium enterprises will receive matching grants under the initiative.

Source: classfmonline.com/Pearl Ollennu