Ghana Set to Launch Palm Industry Policy to Boost Agribusiness

The Minister for Finance, Dr. Cassiel Ato Forson, has hinted that Ghana is preparing to launch a comprehensive Palm Industry Policy aimed at transforming the country into a major player in the global palm oil market.

Speaking during a meeting with representatives of British International Investment (BII), Dr. Forson said the policy will position palm as a strategic crop, alongside cocoa, to drive Ghana’s agribusiness agenda.

“We are looking to attract private sector investment to cultivate 50,000 hectares of palm. For the first 20,000 hectares alone, we estimate a need for $100 million in investment,” he said.

The Minister noted that countries like Malaysia have successfully leveraged palm to support national development and Ghana is determined to follow suit. Currently, Ghana is not self-sufficient in palm oil production, while neighbouring countries like Côte d’Ivoire are already exporting.

To support this agenda, the Ministry of Finance will soon establish a Real Sector Division to identify high-impact sectors and growth opportunities, including agribusiness and responsible mining.

BII, which has invested over $200 million in Ghana—particularly in energy—welcomed the government’s renewed focus on the real sector.

The institution expressed interest in expanding support to areas like SMEs, forestry, and banking, and is considering bringing its full board to Ghana for the first time in about a decade.

Source: Kofi Acquah