Ghana Should Use Commodity-Backed Finance to Boost Production

Ghana can significantly boost its productive sectors and accelerate economic transformation using commodity-backed financing. Dr. Godwin Acquaye, Chief Executive Officer of the Business & Financial Times (B&FT), stated this at The Money Summit 2026.

Dr. Acquaye urged policymakers and industry leaders to adopt innovative financing mechanisms. These mechanisms would leverage Ghana’s abundant natural resources. This approach would support domestic production and value addition. He highlighted Ghana's wealth in gold, cocoa, oil, and strategic minerals.

Ghana has traditionally exported raw commodities. The country has struggled to access affordable financing for processing and value addition. Dr. Acquaye noted that global experience shows commodities are bankable assets. They can unlock capital. This aligns with Ghana's broader economic goal of moving beyond raw material exports.

“Ghana is blessed with some of the world’s most valuable commodities,” Dr. Acquaye said. “Yet for decades we have exported raw commodities while struggling to access affordable financing for production and value addition.” He emphasized that commodities can serve as assets for attracting investment. This can ultimately drive economic growth.

The B&FT CEO cited Ghana’s cocoa sector as a successful model for commodity-backed financing. Structured arrangements have long supported cocoa purchases and exports. He also pointed to financing transactions in the mining industry. The Bogoso-Prestea deal is an example of commodity assets attracting significant investment.

Dr. Acquaye advocated for broader use of financial instruments. These include warehouse receipts, future production contracts, and commodity assets. These tools could help smallholder farmers, agribusinesses, and mining enterprises. They would gain access to more affordable financing.

Expanding these financing models is critical for Ghana's economic recovery. It is also crucial for long-term growth. This expansion must happen alongside stronger domestic capital mobilisation. Financial inclusion initiatives are also necessary. These steps will ensure sustained progress.

The focus on commodity-backed finance signals a potential shift in Ghana's economic strategy. It could reduce reliance on traditional debt financing. This approach could also create more opportunities for local businesses. Decision-makers and markets will closely watch policy developments in this area. This could influence investment flows into Ghana's productive sectors.