President John Dramani Mahama has engaged the International Finance Corporation (IFC) on plans to attract strategic investment into Ghana’s agriculture sector and increase local processing of the country’s raw materials.
The President met IFC Managing Director Makhtar Diop at the Presidency on Wednesday, September 16, where discussions centred on commercial agriculture, infrastructure, energy, education and digital connectivity.
A major focus of the engagement was the government’s ambition to expand production in key agricultural areas, including cocoa, oil palm and poultry, while creating stronger opportunities for investment and value addition.
President Mahama also reiterated the government’s policy objective of processing at least *0% of Ghana’s cocoa beans locally, alongside increasing the domestic processing of other agricultural products and minerals.
The move is intended to enable Ghana to retain more value from its natural and agricultural resources, while supporting industrialisation, creating jobs and improving incomes along the various value chains.
The President and the IFC chief also discussed infrastructure requirements needed to support economic activity, including the expansion of roads, railways and aviation infrastructure under the government’s Big Push programme.
Digital connectivity was another area considered during the meeting, alongside challenges confronting the energy and education sectors.
President Mahama used the engagement to highlight recent improvements in Ghana’s economic indicators, attributing the progress to prudent economic management and fiscal discipline.
He pointed to declining inflation, reduced national indebtedness and restored investor confidence as signs of the economy’s turnaround.
The discussions come as the government seeks to translate economic stabilisation into increased production and investment, particularly through stronger private-sector participation.
For the IFC, Ghana’s commercial agriculture sector presents an opportunity to support businesses operating across production, processing and related value chains.
Mr. Diop commended President Mahama’s commitment to economic reforms and expressed the IFC’s readiness to support the country’s commercial agriculture ambitions.
The IFC Managing Director also pledged the corporation’s support for Ghana’s broader efforts to build a resilient and sustainable economy.
The meeting formed part of Mr. Diop’s engagements during his September 15–17 visit to Ghana, which has included discussions with government officials and private-sector stakeholders on investment, agribusiness, access to finance, industrial development and job creation.
Ghana’s push to process more cocoa, agricultural produce and minerals locally forms part of the government’s broader strategy to move away from dependence on the export of raw materials and create greater economic value domestically.
Source: Starrfm.com.gh
