Ghana’s Shea Industry Gets $5.5bn Value Chain Partnership
Ghana’s shea industry is set for a major expansion drive following a new partnership between the Tree Crops Development Authority (TCDA) and Russia’s EFKO Group aimed at unlocking greater value in the global shea market, estimated at US$2.75 billion and projected to exceed US$5.5 billion by 2033.
Under a newly signed Memorandum of Understanding (MoU), the two institutions will collaborate on investment promotion, processing, research, sustainability initiatives and women’s economic empowerment to reposition Ghana as a key hub in shea value addition rather than a raw material exporter.
The agreement, signed with Golden Forest Limited, a subsidiary of EFKO Group, follows engagements initiated during the maiden Ghana Tree Crops Investment Summit and Exhibition 2026.
Speaking at the ceremony, TCDA Chief Executive Officer, Dr. Andy Osei Okrah, described the deal as a strategic step toward building a more “diversified, value-added” tree crops sector capable of competing globally.
He noted that while Africa remains the dominant producer of shea, most of the value is currently captured outside the continent through international processing and manufacturing.
“This partnership is a strategic intervention to shift Ghana from exporting raw shea nuts to becoming a centre for processing, innovation and industrial development,” Dr. Okrah said.
He added that increased local processing would significantly improve incomes across the value chain, especially for women who form the backbone of shea collection and primary processing activities in rural communities.
On his part, Chief Executive Officer of Golden Forest, Timur Bakusev, said EFKO Group views Ghana as a key partner in its African expansion strategy.
He explained that the collaboration will focus on restoring shea parklands, improving yields through scientific research, and supporting women involved in shea collection.
“We are committed to long-term investment in Ghana’s shea sector, particularly in restoration, processing infrastructure and knowledge exchange,” he said.
Bakusev also announced plans to support educational exchanges, including opportunities for Ghanaian students to study tree crop and oilseed processing at agricultural institutions in Russia.
According to TCDA, the partnership is expected to attract new investment into the sector, expand local processing capacity, enhance sustainability practices, and strengthen Ghana’s competitiveness in the global shea market.
The MoU also forms part of broader efforts to deepen agricultural and industrial cooperation between Ghana and international partners, while advancing the country’s export diversification and value addition agenda.
Industry stakeholders say the initiative could mark a turning point for the shea sector if effectively implemented, given its potential to create jobs, improve rural incomes and increase foreign exchange earnings from processed exports.
