Build Resilient Food Systems Amid Inflation Pressures – Veep
Vice President Naana Jane Opoku-Agyemang has called for stronger investment in agriculture and resilient food systems to help West African countries manage rising food prices and improve long-term food security across the region.
Speaking at the West Africa Rice Investment Roundtable themed “Mobilising Transformational Capital to Support West Africa’s Rice Agenda,” at Kempinski Gold Coast Hotel in Accra, the Vice President said economies within the sub-region continue to face significant pressure from imported inflation, supply chain disruptions and exchange rate volatility, all of which are contributing to rising food costs.
According to her, the region must prioritise agricultural industrialisation and strengthen regional trade integration to reduce dependence on imported food products.
“Ghana has experienced imported inflation, supply chain challenges and exchange rate volatilities which affect food prices. Within these challenges, we have to build resilient food systems, industrialise agriculture and strengthen regional trade under the AfCFTA,” Prof. Opoku-Agyemang stated.
She stressed that food security has become both an economic and strategic priority for African countries, particularly as global economic uncertainties continue to affect commodity prices and international supply chains.
The Vice President urged governments, development finance institutions, development partners and private investors to increase funding for agriculture, especially rice production and value addition, to help the region meet rising domestic demand while creating jobs and improving rural livelihoods.
According to her, increased investment in modern farming systems, irrigation infrastructure, storage facilities, agro-processing and regional market access will be critical to transforming the rice value chain across West Africa.
She also highlighted the importance of leveraging the African Continental Free Trade Area to strengthen intra-African trade and create larger markets for agricultural products produced within the continent.
Prof. Opoku-Agyemang noted that improving regional food production capacity would help cushion African economies against external shocks while reducing pressure on foreign exchange reserves caused by food imports.
The roundtable brought together policymakers, investors, development finance institutions and private sector stakeholders to discuss strategies for mobilising long-term investment into West Africa’s rice industry.
Participants explored ways to accelerate growth within the regional rice value chain through public-private partnerships, technology adoption, financing support and improved cross-border trade systems.
Industry stakeholders at the event also underscored the need for stronger collaboration among West African countries to improve agricultural productivity, enhance value addition and strengthen food supply systems in the face of growing climate and economic challenges.
The Vice President said building resilient food systems would not only improve food availability and affordability but also contribute significantly to economic growth, employment generation and regional stability across West Africa.
