Ghana is a strategic investment hub for food processing – Deputy Minister
By Prince Opoku DOGBEY, Accra
The Deputy Minister in charge of crops at the Ministry of Food and Agriculture, Yaw Frimpong Addo, has called on investors to invest in Ghana’s agribusiness sector by focusing on food processing and agriculture mechanization initiatives.
According to him, Ghana is a strategic hub for agribusiness investments due to its conducive and friendly business environment, peace, international relations, reputation, and a thriving agricultural community.
He made these remarks during the launch of the ongoing third edition of the Agritech West Africa Exhibition, hosted at the Accra International Conference Centre, which commenced yesterday, March 19, and is expected to climax on Thursday, March 21, 2024.
The exhibition has garnered significant attention and support, being held under the auspices of the Ministry of Food and Agriculture and with the backing of the Ministry of Trade and Industry.
Over 100 companies from countries such as India, South Africa, Turkey, Nigeria, Ghana, the UK, Italy, France, and Spain are participating and showcasing their latest innovations and technologies in agriculture.
The Deputy Minister emphasized, “When you invest in Ghana, your investment is secure due to the laws protecting individuals’ investments and incomes. Once you abide by the law, Ghana is the place to be. That is why I observe numerous international companies and investors establishing their businesses here, despite the challenges we face.”
He further stated, “The Return on Investment is high when one invests in Ghana, and there are limited restrictions on repatriating your investment profits.”
This, he said, motivates many companies to choose Ghana as their first investment destination within the African continent.
Additionally, the Deputy Minister elaborated on the mandate of the second phase of the Planting for Food and Jobs (PFJ) Policy, supporting Small and Medium Enterprises in food processing.
According to him, the second phase of the policy enables farmers and food processors to access ready markets, aggregators, and good warehouse facilities.
He indicated that the government is steadily working to reduce post-harvest losses and increase crop processing to create a country of boundless opportunities.
Mr. Frimpong Addo urged the youth and farmers to maintain their efforts and continue enhancing food security through mechanization and proper research.
Indian Ambassador to Ghana, Manish Gupta, speaking at the event, highlighted the lucrative nature of Ghana’s agribusiness sector, provided the necessary investments are increased.
He explained that Ghana’s economy is predominantly dependent on agriculture, with the sector contributing close to 20% of Ghana’s GDP, and 60 percent of the population employed across the agriculture value chain.
According to him, the Indian Government is dedicated to forging partnerships with Ghana to promote economic development through agribusiness.
He commended the efforts of the government, farmers, and stakeholders across the agriculture value chain for enhancing food security.”
