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Business News Mon, 14 Oct 2019

$2bn agric export not enough for Ghana - Akufo-Addo

President Nana Addo Dakwa Akufo-Addo has assured the people of Ghana that his government will intensify investment in the agriculture sector of the economy.

He said the sector has the ability of generating more revenue for the country, hence the need to invest in it.

Mr Akufo-Addo noted that at the moment neighboring Cote d’Ivoire gets $16 billion every year from their agricultural exports but Ghana gets only $2 billion, a situation he said “That is not good enough.”

President Akufo-Addo made this known on Sunday, 13th October, 2019, when he paid a working visit to Ghana Consolidated Diamonds Ltd., (formerly Great Consolidated Diamonds Company Limited), as part of his 3-day tour of the Eastern Region.

Touching on Government’s efforts at diversifying Ghanaian agriculture, President Akufo-Addo was excited that the traditional authorities at Akwatia have embraced the Oil Palm Project being undertaken by the Ministry of Agriculture and the Ministry of Local Government and Rural Development.

President Akufo-Addo noted that his Government is giving support to the cultivation of cashew, oil palm, mango, rubber, shea, so the country can reap similar or more benefits like the country does from cocoa.

“We cannot base the growth and development of our country on just single produce, cocoa. We need to diversify, and a look at other non-traditional exports. Cote d’Ivoire gets $16 billion dollars every year from their agricultural exports. We, in Ghana, get only $2 billion. That is not good enough,” the President bemoaned.

He continued, “So, in three of four years, the investments we have made into these cash crops will certainly get us about $12 to $15 billion receipts of diversified agricultural exports. I am, therefore, happy that the project here has the full support of Nananom.”

In order to ensure the proper regulation of these crops, President Akufo-Addo told the gathering that “before the end of this year, the Tree Crop Authority Bill laid in Parliament will be passed. It will ensure proper regulation of these crops, as has been done with COCOBOD. It will better equip farmers to reap the full benefits of their labour.”

Source: laudbusiness.com