Mahama Pledges GH¢500 Million to Expand Oil Palm Production as TCDA Eyes GH¢12 Billion in Exports

Former President John Dramani Mahama has committed GH¢500 million toward expanding oil palm cultivation in Ghana, supporting efforts by the Ghana Palm Oil Development Company (TCDA) to dramatically increase export earnings from the sector.

The funding commitment is part of a broader strategy to grow Ghana’s oil palm industry, create jobs, and boost economic development in rural areas. Officials say the investment will help enhance production capacity and modernise the sector’s value chain, from cultivation to processing.

At the same time, the TCDA has set a bold target of reaching GH¢12 billion in annual export revenue from oil palm and related products. This goal reflects optimism about the sector’s potential to tap into rising global demand for palm oil and palm derivatives.

Leaders involved in the initiative emphasised that expanding oil palm cultivation is expected to benefit smallholder farmers, increase productivity, and attract both local and foreign investment into Ghana’s agricultural value chains. Support measures such as improved seedlings, better farming techniques, and access to processing facilities are all part of the drive to increase output and export competitiveness.

The programme also aligns with national efforts to diversify Ghana’s economy, reduce reliance on a narrow set of export commodities, and enhance industrialisation in the agricultural sector. A stronger oil palm industry is seen as a way to deepen agribusiness linkages, boost export earnings, and deliver sustainable growth in farming communities.

Mahama’s financial pledge has been welcomed by stakeholders in the agricultural sector, many of whom see it as a significant contribution toward harnessing Ghana’s full potential in the global oil palm market.

Source: Thepressradio.com