By: Rita Naa Ayeley Armah
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, says a new national plan to strengthen the country’s oil palm sector, aiming to drive economic growth, create jobs and increase foreign earnings is in the offing.
“We have created a national policy for oil palm development. Our aim is to turn Ghana’s red gold into a source of jobs and industry” Dr. Ato Forson stated, highlighting the Goverment’s plan on tapping into Ghana’s oil palm potential.
He said this during the 2026 Budget and Economic Review in Parliament.
Despite being one of Africa’s pioneers in oil palm cultivation, Ghana currently imports nearly 200,000 metric tons of crude palm oil each year, costing the nation over $200 million. The new policy aims to address this issue by expanding plantation areas and enhancing refinery and processing capabilities. “This policy changes that by expanding plantations,” Dr. Forson noted, underscoring the initiative’s goal of achieving self-sufficiency in palm oil production.
The plan includes establishing 100,000 hectares of new plantations, which is expected to create around 250,000 jobs in various sectors. “To unlock this potential, the government will secure a large climate-suitable land bank through the Ministry of Lands and Natural Resources to ensure fair compensation, secure tenure and full environmental compliance,” He explained.
This initiative aims not only to boost production but also to support Ghana’s agricultural growth.
“This marks a new dawn in Ghana’s agro-industrial transformation,” he concluded, expressing optimism about the future of the sector and its potential impact on the economy.
