Mahama meets IFC Chief, pushes for major expansion of commercial agriculture

President John Dramani Mahama has held discussions with International Finance Corporation (IFC) Managing Director Makhtar Diop on expanding commercial agriculture, increasing local processing and mobilising investment to support Ghana’s economic transformation.

The meeting at the Presidency on Wednesday, September 16 focused on areas considered critical to strengthening domestic production and creating jobs, including cocoa, oil palm and poultry.

A key issue was the government’s policy to process at least 50% of Ghana’s cocoa beans locally, alongside efforts to increase domestic processing of other agricultural commodities and minerals.

The discussions also covered infrastructure development, with particular attention to roads, railways and aviation, as well as digital connectivity through the government’s Big Push Infrastructure Development programme.

Energy and education were also identified among the key sectors requiring attention.

President Mahama told the IFC chief that Ghana’s recent economic performance had created a foundation for the country to pursue broader structural transformation.

According to the President, prudent economic management and fiscal discipline have contributed to a sharp reduction in inflation, lower national indebtedness and renewed investor confidence.

The engagement comes as the IFC deepens its interest in Ghana’s private sector. The corporation has identified agriculture, infrastructure, energy and job creation as areas for potential investment, while its Managing Director has indicated that the IFC is looking to expand private-sector support in the country.

Mr. Diop commended President Mahama’s reform programme and expressed the IFC’s readiness to support Ghana’s commercial agriculture ambitions.

The IFC Managing Director said the corporation was prepared to work with Ghana not only on agriculture but also on the broader objective of building a more resilient and sustainable economy.

The meeting follows Mr. Diop’s visit to Ghana from September 15 to 17, during which he has been engaging government officials and private-sector stakeholders on investment, access to finance, agribusiness, industrial development and job creation.

The IFC’s engagement with Ghana comes at a time when the government is seeking to move beyond economic stabilisation towards increased production, value addition and private-sector-led growth.

The government’s focus on local processing of cocoa, agricultural produce and minerals is intended to retain more value within the domestic economy while creating opportunities for businesses and workers across the various value chains.