Government set to launch Palm Industry Policy to boost Agribusiness

Ghana's Finance Minister, Dr. Cassiel Ato Forson, announced plans for a Palm Industry Policy. This policy aims to make Ghana a key player in the global palm oil market.

During a meeting with British International Investment (BII), Dr. Forson emphasized the importance of palm oil. He stated that palm will be treated as a strategic crop, alongside cocoa.

The government aims to attract private investment for 50,000 hectares of palm cultivation. For the initial 20,000 hectares, they estimate needing $100 million.

Dr. Forson pointed out that countries like Malaysia have successfully used palm oil for development. Ghana intends to replicate this success.

Currently, Ghana does not produce enough palm oil and relies on imports. In contrast, neighboring Côte d’Ivoire is already exporting palm oil.

To support this initiative, the Ministry of Finance will create a Real Sector Division. This division will focus on high-impact sectors like agribusiness and responsible mining.

BII has invested over $200 million in Ghana's energy sector. They welcomed the government's renewed focus on real sector development.

BII is interested in expanding support for SMEs, forestry, and banking. They are also considering bringing their full board to Ghana soon for the first time in ten years.