Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has reaffirmed the government’s commitment to revitalising the country’s agricultural sector, declaring that no nation can truly develop without sustained investment in agriculture.
He made the statement during the inauguration of the newly appointed Board of Directors of the Agricultural Development Bank (ADB) in Accra on Wednesday.
Dr. Forson used the occasion to stress the central role ADB must play in delivering agricultural transformation, while announcing the government’s intention to inject fresh capital into the bank next year.
“I want to assure the board and management that I will capitalize ADB next year, the agricultural sector is fundamental to Ghana’s long-term development agenda, and ADB must return to its core mandate of serving that sector,” the Minister said.
The Finance Minister’s remarks come at a time when the country is seeking to strengthen food security, cut back on food imports, and promote agro-industrialisation.
Despite agriculture employing a significant portion of the Ghanaian workforce and contributing around 20% of GDP, limited access to financing has continued to hinder growth in the sector.
ADB, established in 1965 with the specific mandate to provide financial support to agriculture and allied industries, has in recent years been criticised for drifting away from its core purpose. Hence, recapitalising ADB and improving its governance would be key to unlocking the sector’s potential.
Dr. Forson’s pledge to recapitalise the bank in the 2026 fiscal year is seen as a response to those concerns. It also aligns with broader government policies such as the second phase of the Planting for Food and Jobs programme and the Ghana Tree Crops Development Authority’s efforts to diversify export crops.
He urged the new board to work with clarity of purpose and align their decisions with the bank’s founding mission.
“Your focus should be clear, serve agriculture. From smallholder farmers to agro-processors, this bank must be the vehicle that delivers real change,” he said.
ADB’s role will be particularly vital as Ghana pushes to replace food imports with locally produced alternatives. The country continues to spend hundreds of millions of dollars annually on importing rice, poultry, and other staples.
With a stronger capital base, the bank is expected to expand credit to small and medium agribusinesses, support value chains, and finance climate-resilient farming systems.
Speaking on the sidelines of the swearing-in, a former ADB executive noted, “It’s not just about money. It’s about designing smart, farmer-focused products and delivering them efficiently. That’s what will drive real impact.”
The recapitalisation announcement also comes at a time when Ghana’s broader economic strategy is shifting towards productive sector investments, following years of fiscal consolidation under the IMF-backed recovery programme.
