Ghana plans to invest US$500M to strengthen its oil palm sector

Ghana plans to invest US$500 million to strengthen its oil palm sector as part of an ambitious strategy to reduce dependence on imports and boost domestic production. The Ghanaian government announced this investment framework in its 2026 Budget and Economic Policy Statement, aiming to transform the country into a self-sufficient producer of palm oil. Ghana currently produces about 70% of its palm oil needs but still imports roughly 30% to cover domestic consumption, spending nearly US$200 million annually on imports. The investment will be implemented through the National Integrated Palm Oil Development Policy for 2026-2032, developed collaboratively with the World Bank, Ghana Development Bank, and other finance institutions. The policy includes a long-term financing facility offering concessional loans with a five-year repayment moratorium and the ability to finance up to 70% of industrial project costs. This patient, an affordable capital model, is crucial to support oil palm ...