Ghana has committed $500 million to revitalize its palm oil sector as part of a bold strategy to end reliance on imports and achieve national self-sufficiency.
The investment, unveiled in the 2026 Budget and Economic Policy Statement, aims to close the current 30% production gap, equivalent to roughly $200 million in annual imports, and strengthen food security while boosting local agro-industrial development.
At the heart of the initiative is the newly introduced National Integrated Palm Oil Development Policy (2026–2032), crafted in collaboration with the World Bank, the Ghana Development Bank, and other financial partners.
The government aims to position Ghana as a net producer, and eventually an exporter, of palm oil within the next decade by significantly expanding domestic cultivation, processing capabilities, and value chain infrastructure.
The policy creates a long-term financing framework offering concessional loans that cover up to 70% of industrial project costs, accompanied by a five-year grace period, a crucial support measure considering that oil palm plantations generally require seven years to reach full maturity.
In addition to boosting cultivation, the initiative is designed to draw both local and international investment to enhance the sector’s competitiveness and resilience. Read more...
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