GOVERNMENT RECEIVES INVESTMENT IN THE AGRICULTURE SECTOR

In a ceremony held in Accra on Tuesday, December 5th, 2023, two MoUs were signed between the Government of Ghana and some development partners, pledging a total investment of about US$13.1 million in the agriculture sector, marking a significant milestone in Ghana’s pursuit of a resilient and environmentally conscious agricultural sector.

The first MOU signed was between the World Food Program (WFP) and the Millennium Development Authority (MiDA) to collaborate on a four-year initiative to fund sustainable agriculture in the country.

Under the “Sustainable Offset Credit for Farmers Concept under Ghana Food Systems Strategy” project, the WFP has committed a substantial $7.0 million from its Changing Lives Transformation Fund (CLTF).

The initiative encompasses a strategic plan to address critical issues affecting the agricultural sector, including low productivity, high post-harvest losses, and limited access to markets for smallholder farmers. Key components of the funding focus on activities such as land preparation and development, installation of irrigation systems, support from the Council for Scientific and Industrial Research (CSIR) for sustainable yields, tree planting initiatives, and youth training in climate-smart agriculture.

The second agreement signed on the day sealed a $6.1 million deal to transform the rice value chain. This collaboration between the MasterCard Foundation and the Millennium Development Authority (MiDA) aims to revolutionize Ghana’s rice sector through the implementation of the Harnessing Agricultural Productivity and Prosperity for Youth (HAPPY) Program.

This contract signing marks the commencement of a five-year project that will extend its impact until May 31, 2028. The fund disbursement period is set to span four years, from December 1, 2023, to November 31, 2027. The MasterCard Foundation’s grant will serve as initial working capital for primary production actors involved in the rice sector. This funding will be strategically utilized to elevate the rice value chain and stimulate economic prosperity in the region.

The primary beneficiary of both initiatives is the KasunyaEconomic Enclave Project, a vital component of the Ghana CARES “Obaatan Pa” Programme, under the Ministry of Finance. Collaborating with key partners such as the Ministry of Food and Agriculture (MoFA), Ghana Irrigation Development Authority (GIDA), National Entrepreneurship and Innovation Program (NEIP), 48 Engineers Regiment of the Ghana Armed Forces, and Private Sector Anchor Farmers, the Ghana CARES programme is poised to benefit from diverse technical expertise and support.

With dignitaries including Hon. Ken Ofori Atta, Minister of Finance, and Professor Yaa Ntiamoa-Baidu, Board Chairperson of MiDA, in attendance, the ceremony symbolized a convergence of influential figures dedicated to driving positive change in Ghana’s agricultural sector.

The Hon. Minister of Finance, in his remarks, highlighted the strategic importance of this collaboration, stating, “This partnership signifies a major milestone in our efforts to boost agricultural productivity. The US$6.1 million grant from the MasterCard Foundation, in conjunction with MiDA, will play a pivotal role in the implementation of the Kasunya Economic Enclave Project under the Ghana CARES ‘Obaatan Pa’ Programme.”

Mr. Ofori-Atta also highlighted the strategic focus on innovation, training, and support in the rice value chain. The collaborative effort will provide working capital for primary production actors, creating 38,269 jobs, with 70% designated for women. Additionally, a projected 20% increase in national rice output, cultivation of 2,560 hectares of rice, and a substantial reduction in rice import costs, demonstrates the program’s commitment to sustainable growth.

The impact of these relationships extends beyond the immediate economic benefits, with a focus on strengthening climate resilience in agriculture and positioning Ghana as a leader in collaborating with partners for sustainable agricultural practices. The initiative also underscores a commitment to gender equality and economic empowerment by providing opportunities for women and girls in the agricultural sector.

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