President Mahama unveils $500m plan to expand oil palm industry

The Chief Executive Officer of the Tree Crops Development Authority (TCDA), Andy Osei Okrah, says the $500 million commitment by President John Dramani Mahama to expand oil palm cultivation marks a decisive step toward transforming Ghana’s tree crops sector into a key driver of economic growth.

The funding will support the development of 100,000 hectares of new oil palm plantations, a programme projected to create around 250,000 jobs while helping the country diversify its agricultural base and reduce long-standing dependence on cocoa exports.

Speaking on the Asaase Breakfast Show on Thursday, Okrah described the investment as evidence of government’s seriousness about the sector, noting that discussions are already ongoing with development partners and international financiers to mobilise the required funds.

“That alone tells you the money is there,” he said.

“Oil palm will lead, but all the crops have strong commercial potential.”

Beyond oil palm, the broader strategy targets five additional crops — cashew, coconut, rubber, mango and shea — which the Authority believes can collectively reposition Ghana within the global agricultural value chain.

TCDA projections suggest that each of the six crops could generate about $2 billion annually, lifting potential export earnings to as much as $12 billion per year through expanded production and value addition.

Currently, the entire tree crops segment brings in roughly $750 million, a small fraction of the $230 billion global market, underscoring significant growth opportunities.

Okrah said investor appetite is already strengthening, with recent engagements drawing private sector commitments involving land acquisition and capital running into hundreds of millions of dollars.

He added that accountability will be central to implementation, with government-backed initiatives such as seedling distribution, grants and farmer support programmes subject to public tracking.

“This is not a talk show. This is an impact investment drive,” he stated.