The Chief Executive Officer of Agri-Impact Limited, Daniel Fahene Acquaye, has called on government to take deliberate steps to invest in agribusiness, arguing that sustained funding and decisive reforms are crucial if Ghana is to fully harness agriculture’s potential for economic transformation.
Mr. Acquaye made a passionate case for the creation of a national Agri-Fund, similar to the GETFund in education, to drive consistent financing and attract greater private sector participation in the agribusiness value chain.
“We have GETFund supporting education and other sectors, so why not an Agri-Fund to support agribusiness? If agriculture is to transform our economy, we must back it with consistent funding,” he stressed.
Mr. Acquaye said Ghana’s agriculture sector continues to underperform despite its vast potential to create jobs, accelerate industrialisation, and boost exports.
He warned that without bold reforms and sustained capital injection, the country risks losing out on the immense opportunities the sector offers.
He cited the government’s Big Push Agenda, which channels royalties from oil and mining into strategic sectors and urged similar prioritisation for agribusiness under national investment frameworks.
“We must be bold to invest, bold to reform outdated policies and bold to stay the course. Agribusiness deserves the same ‘big push’ we are seeing in other sectors,” he said.
Highlighting inefficiencies in the agriculture value chain, Mr. Acquaye revealed that Ghana imports over US$2 billion worth of food annually while losing another US$1.9 billion to post-harvest losses, a situation he described as “economically tragic and avoidable.”
Using the Ashanti Region as an example, he disclosed that the region consumes food and beverages valued at more than GH₵14 billion (approximately US$1.2 billion) annually, yet national post-harvest losses surpass this amount.
“We are literally losing food that could feed an entire region for over a year and a half. Yet we continue to showcase infographics of these losses at every conference instead of solving the problem,” he lamented.
He further pointed out the geographic imbalance in agro-industrial development, noting that while Ghana’s northern regions account for 60% of the country’s arable land, they remain the least industrialised and underserved in terms of agro-processing infrastructure.
Mr. Acquaye also underscored the need for stronger collaboration between academia and industry, urging universities to align student research and innovation with practical business challenges within the agribusiness sector.
“We cannot continue to produce graduates whose skills are mismatched with industry needs. Academic work must translate into business solutions,” he said.
Responding to the concerns, the Director for Agribusiness at the Ministry of Trade and Industry, Mr. Kwame Oppong Ntim, disclosed that government has adopted a two-pronged strategy to stimulate agro-industrialisation and strengthen the agribusiness value chain.
In the short term, he said, government plans to waive taxes on agro-processing machinery to reduce production costs, boost technology access, and encourage investment.
“This will increase access to modern technology for agro-processors, enhance productivity and efficiency, and stimulate growth and development in the agribusiness sector,” he explained.
In the medium to long term, Mr. Ntim noted that through support from the International Fund for Agricultural Development (IFAD) under the Rural Enterprise Programme, the Ministry is partnering with the GRATIS Foundation to retool local manufacturing capacity for agro-processing equipment.
“The goal is to provide a strong base for local production of agro-machinery for small and medium enterprises, ensuring that Ghana sustains its own industrial growth,” he said.
Mr. Acquaye appealed to policymakers, financiers, and industry stakeholders to demonstrate bold leadership and a long-term vision for the sector.
“We need leadership willing to take calculated risks for long-term gain. With the right investment and policy support, Ghana’s agribusiness can become the backbone of our industrial growth and a key player in Africa’s food economy,” he affirmed.
