Deputy Finance Minister courts investors to transform Ghana’s rice economy

Deputy Minister for Finance, Hon. Thomas Nyarko Ampem, has called on investors and development partners to commit long-term capital to transform Ghana’s rice sector into a major driver of economic growth, food security and industrialisation.

Speaking at the 2026 West Africa Rice Investment Roundtable in Accra, he said Ghana was repositioning agriculture, particularly strategic value chains such as rice, as a central pillar of economic transformation.

The forum brought together representatives from governments across the sub-region, the private sector, development finance institutions, investors and regional bodies, including the ECOWAS Commission.

Addressing participants on behalf of Finance Minister Cassiel Ato Forson, Mr Nyarko Ampem said Ghana was creating the right policy and macroeconomic environment to attract investment into the rice value chain.

“Ghana’s message to investors is straightforward: we are doing the policy work, we are strengthening the enabling environment, and we are creating the conditions for long-term capital to thrive,” he said.

He noted that the government was focused on reducing import dependence while expanding domestic production, agro-processing and value addition within the rice sector.

According to him, West Africa continues to spend between US$3 billion and US$4 billion annually on rice imports, describing the trend as economically unsustainable.

He said the challenge was not a lack of land, water resources or farmers, but insufficient investment to transform rice production at scale, stressing the need for “transformational capital” to support irrigation, storage, logistics, milling and agro-processing infrastructure.

Mr Nyarko Ampem said Ghana’s economic reset agenda under President John Dramani Mahama and Vice President Jane Naana Opoku-Agyemang emphasises productive transformation, food security and private sector-led growth.

He added that government interventions are focused on strengthening agricultural value chains, improving market coordination, supporting price stability mechanisms and creating a predictable investment climate.

He further noted that macroeconomic stability and renewed investor confidence are key to attracting long-term investment into critical sectors.

He urged stakeholders in the sub-region to move beyond discussions and focus on mobilising practical financing arrangements for large-scale rice production.

“West Africa does not need more declarations. We need to create pipelines of bankable projects capable of crowding in long-term capital at scale,” he said.

He expressed optimism that the roundtable would generate strategic partnerships and investment commitments to strengthen regional food systems and reduce dependence on imported rice.