The Tree Crops Development Authority (TCDA) and Golden Forest Limited, a subsidiary of Russia’s EFKO Group, have signed a strategic Memorandum of Understanding (MoU) aimed at positioning Ghana to capture greater value from the rapidly expanding global shea industry, currently valued at about US$2.75 billion and projected to surpass US$5.5 billion by 2033.
The agreement seeks to accelerate investment, sustainability, and value addition across Ghana’s shea value chain through collaboration on shea parkland restoration, processing infrastructure, scientific research, women’s economic empowerment, and industrial development.
The partnership emerged from engagements initiated during the maiden Ghana Tree Crops Investment Summit and Exhibition 2026, where discussions between TCDA and Golden Forest identified opportunities to deepen investment and cooperation in the sector.
Speaking at the signing ceremony, TCDA Chief Executive Officer Dr. Andy Osei Okrah described the agreement as a “strategic intervention” that aligns with efforts to build a “highly developed, diversified, value-added” tree crops sector capable of competing globally.
Okrah noted that despite Africa’s dominance in shea production, much of the value generated from the commodity continues to be captured outside the continent through international processing and manufacturing activities. He said the partnership offers Ghana an opportunity to move beyond raw material exports and strengthen its position as a hub for shea processing, innovation, and industrialization.
He added that increased local value addition could enhance incomes across the value chain, particularly for women who play a central role in shea collection and primary processing.
Golden Forest Chief Executive Officer Timur Bakusev reaffirmed EFKO Group’s long-term interest in Ghana, describing the country as a “key partner” in the company’s African operations.
According to him, the agreement will focus on “restoring the shea tree park,” supporting women collectors, and promoting “scientific cooperation” to improve shea yields and product quality.
Bakusev also disclosed plans to create educational opportunities for young Ghanaians to pursue higher studies in tree crops and oilseed processing at agricultural universities in Russia.
TCDA said the MoU is expected to strengthen sustainability within the shea sector, attract new investment, expand research and processing capacity, improve value addition, and enhance the global competitiveness of Ghana’s shea industry.
The agreement also marks a broader effort to deepen agricultural cooperation between Ghana and Russia within the tree crops sector while supporting Ghana’s industrialization and export diversification agenda.
