Finance Minister Dr. Cassiel Ato Forson has unveiled plans for a transformative Oil Palm Plantation Policy, to be embedded in the 2026 Budget, aimed at generating over 500,000 jobs and positioning agriculture as a cornerstone of Ghana’s economic growth. The announcement follows strategic talks with Mr. Ethiopis Tafara, Regional Vice President for Africa at the International Finance Corporation (IFC), to bolster investment in the agricultural sector.
Dr. Ato Forson emphasized the policy’s potential to revolutionize the oil palm value chain—from cultivation to processing and exports—creating opportunities across farming, manufacturing, and logistics. “The potential is enormous. With the right investment and partnerships, we believe Ghana can create over 500,000 jobs across the value chain,” he stated in a Facebook post, highlighting agriculture’s role in driving industrialization and inclusive development.
The initiative, part of a broader strategy to harness economic crops, will rely on “patient capital” through partnerships with global institutions like the IFC and World Bank to mobilize long-term financing and spur private sector involvement. “We are working closely with development partners to catalyze private sector participation,” Forson noted, underscoring the need for sustainable funding to scale up operations.
With Ghana’s oil palm industry already contributing significantly to GDP—valued at over $300 million annually per recent agricultural reports—this policy aims to enhance productivity and global competitiveness. The framework will provide clear guidelines for stakeholders, aligning with government efforts to reduce unemployment, which hovers at 14.7% among youth, and boost rural economies.
Dr. Forson expressed optimism about the initiative’s impact, stating, “Ghana is ready to move. Together with our partners, we will harness the power of agriculture to deliver inclusive growth, create jobs, and place economic crops at the heart of our nation’s transformation agenda.” As the policy takes shape, it could mark a pivotal step toward economic diversification and resilience in Ghana’s post-2025 development agenda.
