The 24-Hour Economy and Accelerated Export Development Secretariat has announced that they have signed terms with four investment partners for a US$270 million National Poultry Transformation Programme.
According to the 24-Hour Economy Secretariat, the US$270 million project will boost domestic poultry production and create 12,000 direct jobs.
The agreement was signed at the Tony Blair Institute for Global Change in Accra, with the investment being described as the largest UK agrifood investment in Ghana to date.
It brought together UK-based agrifood investment company Agrium Capital, Petra Trust, Axis Pension Trust and Ghana EXIM Bank.
Reports suggest that under the first phase, the programme is expected to produce about 20,000 tonnes of dressed and processed broiler products annually, with plans to scale production to 50,000 tonnes.
The $270m poultry investment initiative is also intended to reduce Ghana’s dependence on imported poultry, with the country currently spending approximately US$400 million annually on chicken and other poultry products.
Augustus Goosie Tanoh, the Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, detailed that the development demonstrates the government’s strategy of leveraging both domestic and international capital.
“This is a purposeful blend of foreign private capital and Ghanaian private capital, aligned to build this industry at scale,” he said.
In related news, Dr Cassiel Ato Forson, the Finance Minister, has said Ghana will now only accept financing for projects that create jobs, grow exports, reduce costs and protect debt sustainability.
The Finance Minister vowed that Ghana will take a more disciplined approach to financing development projects.
According to Ato Forson, Ghana will now proceed with discipline as the country works to protect debt sustainability and prevent another debt crisis.
The Finance Minister disclosed that every project must be economically justified, transparently procured and capable of supporting growth while generating revenue or reducing costs.
He argued that infrastructure projects, including roads, railways, power plants and industrial enclaves, must deliver measurable benefits to the Ghanaian economy.
Ato Forson, in a post sharing a video of comments he made during the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, stated, “Yesterday, I made it clear: Ghana will proceed with discipline.
We will only accept financing for projects that create jobs, grow exports, reduce costs and protect debt sustainability”.
In the video, Ato Forson stated, “As we assume financial cooperation, Ghana will now proceed with discipline. We will not borrow simply because financing is available. Every project must be economically justified and transparently procured, capable of supporting growth, generating revenue and reducing cost.
“Any road, railway, power plant, industrial enclave or other infrastructure financed through this cooperation must improve productivity, create jobs, increase exports and strengthen Ghana’s ability to repay its obligations,” he said.
“We will diversify our financing sources, protect debt sustainability and avoid a return to the conditions that led to the 2022 debt crisis,” he stated.
@ghnow_ Chairman of the Ghana Tanker Association laments the poor state of the Tema–VALCO to TOR road #GHnow #FixValcoKponeRoad #fyp ♬ original sound – GHnow
@ghnow_ Tanker Drivers Association Chairman calls on Roads Minister to inspect the deplorable Tema–VALCO Road #GHNow #fyp #FixValcoKponeRoad ♬ original sound – GHnow
