Deputy Minister for Food and Agriculture Mohammed Hardi Tuferu is urging foreign investors to take advantage of Ghana’s conducive business environment and invest in the country’s agricultural sector. He says the country is ready for business and government is looking forward to raising US$3 billion this year in foreign direct investments, out of which half will be in the manufacturing and agribusiness sectors.
“We are making call to investors to come and take advantage of the opportunities that are abound in the agricultural sector. Ghana agriculture has small holder farmers and there is huge potential for commercial farming,” the deputy minister said.
“Ghana has one of the best investor friendly climates that should be exploited buy the business community for the mutual interest of our citizens and investors,” he added.
The deputy minister was speaking at the fourth edition of the Agribusiness Deal Room as part of the Alliance for Green Revolution Forum (AGRF) currently ongoing in Nairobi, Kenya. The forum has brought together a critical range of stakeholders from across Africa including government officials, private sector actors, development and non-profit partners, academics, among others to discuss how to make Africa more food secure.
The Agribusiness Deal Room is a match making platform at the annual AGRF Summit that convenes different stakeholders to facilitate partnerships and investments in African agriculture. The Deal Room specifically supports governments and companies with access to finance and partnership opportunities. The session was on the theme “invest in Ghana’s agri-food sector.”
Mr. Tuferu said government is committed to contributing meaningfully to the Ghana Beyond Agenda through opening up the country for investors. He says the efforts are paying off with Ghana being the largest recipient of FDI investments in West Africa, but more needs to be done.
Mr. Tuferu said the Planting for Food and Jobs Program, and the One-District-One Factory initiative are government projects with substantive amount of private sector involvement to ensure success. He said the establishment of the Tree Crop Development Authority will also help allow for more investments in tree crops beyond cocoa.
“Ghana is revitalizing and transforming the agricultural sector, as well as attracting educated youth into the agricultural sector. Food imports substitution are being prioritized… Rice farming and processing opportunities are available, and fruit juice processing too,” he disclosed. He said the poultry sector also has a lot of outstanding investment opportunities.
Head of Agribusiness Unit at Ministry of Food and Agriculture Jeremy Agyemang told the session there are vast available tax incentive opportunities for private sector players that they can take advantage of when they come invest in Ghana.
Dufie Addo who is head of operations at the Ghana Investment Promotion Center said Ghana is a thriving place to do business that will give investors value for their investments.