The Tree Crops Development Authority (TCDA) has inaugurated a five-member Audit Committee to strengthen financial governance and reinforce investor confidence in Ghana’s growing tree crops sector, a critical pillar in agricultural diversification and export growth.
The committee, chaired by Eric Osei-Afriyie of the Internal Audit Agency (IAA), includes Nii Amasah Djanie (IAA), Daniel Nyame, and Dr. Allen Kwadwo Asante Yeboah (both TCDA Board Members), and Elizabeth Ohene Bampoe from the Institute of Chartered Accountants, Ghana (ICAG).
They were sworn in by Thomas Nii Ashaley Thompson-Aryee, Acting Director-General of the IAA, who emphasised the committee’s statutory role under the Public Financial Management (PFM) Act, 2016 (Act 921).
Thompson-Aryee underscored that financial integrity remains a cornerstone of public sector performance and investor trust.
He lamented persistent irregularities within state institutions, urging the committee to enforce timely implementation of audit recommendations from the Auditor-General, the Ministry of Finance, and the Presidency.
“Audit committees must ensure strict adherence to financial management reforms and procurement laws, including commitment authorisation for contracts that exceed approved thresholds,” he said.
His remarks come amid government efforts to improve transparency in state agencies, particularly those managing large agricultural and export-related funds.
TCDA Chief Executive Officer, Dr. Andy Osei Okrah, described the inauguration as a strategic milestone in enhancing the Authority’s fiscal discipline and operational efficiency.
He said the committee’s oversight would strengthen internal controls, improve resource allocation, and ensure value-for-money outcomes in projects financed by public and donor funds.
“Financial stewardship is not just an administrative requirement but a strategic necessity for national development,” Dr. Osei Okrah noted. “The tree crops sector attracts significant domestic and international funding, and sound governance is essential to sustain investor confidence.”
The TCDA, established under Act 1010 of 2019, regulates and promotes six key non-traditional export crops, cashew, coconut, oil palm, rubber, mango, and shea which collectively contribute hundreds of millions of dollars annually to Ghana’s non-cocoa export earnings.
Ensuring fiscal discipline, analysts say, is vital to scaling up production, improving smallholder incomes, and sustaining foreign exchange inflows.
Committee Chair Osei-Afriyie reaffirmed the team’s commitment to strengthening financial oversight and supporting management to enhance compliance with the PFM Act.
“Our aim is to add value, ensure effective governance, and make sure that the internal audit function performs to expectation,” he said.
The committee’s work is expected to help TCDA improve audit compliance scores, reduce procurement risks, and enhance the transparency of fund utilisation across its value chains.
This, in turn, will help attract more private sector participation, particularly in processing and export ventures within Ghana’s emerging tree crop economy.
Experts note that by institutionalising rigorous financial governance, TCDA could position itself as a model for other commodity regulatory bodies.
Transparent management of public resources not only minimises wastage but also builds credibility with partners such as the World Bank, the African Development Bank, and the private agribusiness community.
The inauguration, therefore, marks a significant step toward strengthening Ghana’s agricultural financing ecosystem, which depends heavily on effective governance frameworks to deliver measurable economic impact.
