Agriculture should be seen as a Business in Ghana

Carrot farm at Adafienu, Ghana. Photo: EnterpriseAfrik

Vice-President Kwesi Amissah-Arthur says the government will promote the agricultural sector to make it attractive and profitable for Ghanaians and investors.

"Agriculture should be seen as a business," he said, adding that the government continued to promote the sector to make it profitable for operators along the production chain.

With the government's objective of attracting more participation in the agricultural sector, he said, a number of initiatives and incentives had been developed to motivate people and firms in the sector.

Espousing the government’s vision for agriculture at the World Economic Forum on Africa in Cape Town, South Africa, the Vice-President said the agricultural sector remained critical for Ghana’s economic growth.

In view of the strategic importance of the sector, he said, the government had taken various measures to facilitate its transformation.

Mr Amissah-Arthur was on the panel along with leaders such as President Goodluck Jonathan of Nigeria, President Thomas Yayi Boni of Benin and President Joyce Banda of Malawi to address the forum, which attracted business leaders, investors and development partners.

The investment forum was held under the auspices of GrowAfrica, an alliance of governmental and private groups promoting agricultural investment.

It provided a platform for the leaders to share with investors their countries’ initiatives and the commitment by their governments in enhancing agric-business.

Vice-President Amissah-Arthur assured participants in the forum of the Ghana government's commitment to promote effective agric-business towards exploring the huge potential of the sector and urged investors to take advantage of the prospects.

"Ghana is ready to do business with the world to unlock the potential of the agricultural sector," he emphasised.

Regarding the challenge of accessing funds, he explained that the Venture Capital Fund was being enhanced to provide financial services for outgrowers and harness pension funds to leverage loans.

President Jonathan, for his part, lauded the initiative of GrowAfrica, saying it would help transform agricultural production in Africa.

He stressed the importance of securing the partnership of the private sector, saying agric-business could not thrive without adequate investment from the private sector.

In President Boni’s view, there was the need for small-farm holders to form cooperatives to be able to attract financing.

He also called for partnerships and trading among African countries, saying the continent needed to utilise its huge market.

According to GrowAfrica, Africa’s agriculture was witnessing a historic shift in private sector investments that created economic opportunities for small-holders and improved food security.

In 2012, GrowAfrica partners mobilised over $3.5 billion in new investment commitments which have engaged over 800,000 farmers in some African countries.