The Government has announced a US$500 million financing window to accelerate palm oil development in Ghana, create jobs, and boost foreign exchange earnings under a new seven-year policy framework.
The initiative, dubbed the National Policy on Integrated Oil Palm Development (2026–2032), was unveiled in the 2026 Budget Statement presented to Parliament by Finance Minister Dr. Cassiel Ato Forson on Thursday.
He said the policy aims to transform Ghana’s palm oil value chain from cultivation to processing, and eliminate the country’s dependency on imports, which currently cost over US$200 million annually.
“Despite being one of Africa’s pioneers in oil palm cultivation, Ghana imports nearly 200,000 metric tonnes of crude palm oil every year. This policy will reverse that deficit and create over 250,000 jobs,” Dr. Forson said.
Under the new plan, the government will expand oil palm plantations by 100,000 hectares, strengthen refinery capacity, and promote export-led industrialisation.
The initiative will be supported by the World Bank, Development Bank Ghana (DBG), and international development finance institutions (DFIs).
The US$500 million Oil Palm Development Finance Window will provide long-term, low-interest loans with a five-year grace period, covering up to 70 percent of project costs. It targets sustainable ventures that align with Ghana’s green growth strategy.
Smallholder farmers will be central to the programme through an Out-grower Partnership Scheme that provides access to improved seedlings, farm machinery, extension services, and guaranteed offtake at fair prices.
The Tree Crops Development Authority (TCDA) and the Oil Palm Research Institute (OPRI) will lead technical regulation and research. Meanwhile, Ghana EXIM Bank will offer financial backing, supported by a Smallholder Support Fund for women and youth farmers.
Dr. Forson said the policy would also introduce a tax stamp regime for edible oils to curb smuggling, protect local producers, and ensure quality assurance.
“This initiative marks a new dawn for Ghana’s agro-industrial transformation,” he emphasised. “Our goal is to build a value chain that creates wealth from the soil to the shelf.”
However, this is to promote rural industrialisation and strengthen Ghana’s non-traditional export base. The oil palm development Ghana agenda, they argue, will generate employment, attract private investment, and improve trade balances under AfCFTA.
In addition, the policy will enhance environmental stewardship through responsible land acquisition and compliance with sustainable farming standards. The Ministry of Lands and Natural Resources will coordinate land banking and compensation arrangements.
Dr. Forson assured Parliament that the programme would be monitored closely to ensure accountability and measurable results. “This is not just agriculture,” he said, “it is industrialisation in motion.”
