Ghana Seeks GHS Billions in Rice Investment

Deputy Finance Minister Thomas Nyarko Ampem is urging investors to commit long-term money to Ghana's rice sector. He wants to make rice farming a key part of Ghana's economic growth and ability to feed itself. This call comes as the region spends billions each year on imported rice.

West Africa spends between US$3 billion and US$4 billion every year on rice imports. Mr. Nyarko Ampem called this spending unsustainable. He explained that this money leaves the region's economies. Ghana aims to produce more rice locally instead of buying it from other countries. The government is working to create a good environment for investors.

This effort fits into Ghana's larger economic plan. President John Dramani Mahama's agenda focuses on boosting production and ensuring food security. Ghana wants to rely less on imports and more on its own farms. The country is also improving its infrastructure and making its economy more stable. This helps attract foreign investment. Historically, Ghana has faced challenges in its agricultural sector.

Mr. Nyarko Ampem spoke at the 2026 West Africa Rice Investment Roundtable in Accra. He said Ghana is doing the policy work needed. The government is strengthening the business environment. This creates conditions for long-term capital to grow. He stated on Tuesday that Ghana aims to attract investment into the entire rice process. This includes farming, processing, and adding value.

The Deputy Minister explained that the region has land and water. It also has many farmers. The main problem is not enough money for large-scale production. He called for "transformational capital." This means money for systems like irrigation and storage. It also means funds for logistics and processing factories. The goal is to move beyond small, seasonal farming support. He announced this on June 4, 2026.

Mr. Nyarko Ampem stressed that West Africa needs action. It needs practical financing for big rice projects. These projects should attract large amounts of money. He hopes the roundtable will lead to new partnerships. These partnerships should help regional food systems. They should also reduce the need for imported rice. This could free up billions in foreign exchange.

The government is focused on strengthening agricultural production. It wants to improve how markets work. This includes supporting stable prices. Creating a predictable place for businesses to invest is also key. Investor confidence is growing. This helps Ghana attract long-term funds.

The Deputy Finance Minister believes this investment is crucial. It targets a sector with high potential. A strong domestic rice industry can create jobs. It can also reduce Ghana's reliance on foreign currency. This supports the nation's economic resilience.