Ghana’s Ministry of Food and Agriculture has finalized a substantial $1.5 billion Ghana AgriConnect Compact with major development partners, including the World Bank, the International Fund for Agricultural Development (IFAD), and the International Finance Corporation (IFC). The agreement, signed recently, aims to generate over 2.6 million jobs within the next five years by fostering investments across the agricultural value chain, enhancing food security, and bolstering the nation’s agribusiness sector.
A New Chapter for Ghanaian Agriculture
The signing ceremony marked a pivotal moment for Ghana’s agricultural modernization efforts. Minister for Food and Agriculture, Eric Opoku, highlighted the compact as a critical step in transforming agriculture into a primary engine for economic growth. This initiative is designed to unlock new opportunities for farmers, agribusinesses, and particularly the youth.
Opoku emphasized that the program is aligned with the government’s overarching goal of cultivating a resilient and competitive agricultural sector. The objective is to meet domestic food demands robustly and significantly expand export capabilities, thereby reducing the country’s reliance on food imports.
Private Sector and Smallholder Farmer Focus
The International Finance Corporation (IFC) underscored the indispensable role of the private sector in achieving the compact’s ambitious goals. Nathalie Kouassi Akon, IFC’s Division Director for West Africa, stated that attracting private investment is key to creating sustainable employment and building more robust agricultural value chains nationwide.
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