Ghana has secured a proposed US$270 million investment agreement to revitalise its poultry industry, expand domestic chicken production and reduce the country’s dependence on imported poultry.
The agreement, brokered by the 24-Hour Economy and Accelerated Export Development Secretariat, will support an integrated poultry value chain covering feed production, hatcheries, commercial farming, processing, cold-chain infrastructure and distribution.
Speaking at the signing ceremony in Accra on Thursday, Presidential Adviser and Head of the 24-Hour Economy Secretariat Goosie Tanoh described the agreement as a landmark intervention that would help reduce Ghana’s poultry import bill while creating opportunities for farmers and agribusinesses.
“The signing of this Heads of Terms agreement marks an important step towards building a modern, competitive and integrated poultry value chain capable of meeting a significant share of domestic demand,” Tanoh said.
The Heads of Terms agreement was signed by representatives of the 24-Hour Economy and Accelerated Export Development Secretariat, the Tony Blair Institute, Agrium Capital, Petra Pension Trust and Axis Pension Trust.
The signing represents the first formal step towards implementing the poultry investment programme and reflects the parties’ commitment to developing an integrated domestic poultry value chain.
Ghana consumes about 340,000 tonnes of chicken annually but produces only a fraction of its domestic requirement. About 270,000 tonnes are imported each year, costing the country approximately US$400 million in foreign exchange.
Tanoh said Ghana continued to spend hundreds of millions of dollars on imported chicken despite having the natural resources, entrepreneurial capacity and market demand to develop a stronger domestic poultry industry.
He said the proposed investment would cover major segments of the poultry ecosystem, including hatcheries, feed production, commercial farms, processing facilities, cold-chain infrastructure and distribution networks.
The project is aligned with the government’s broader 24-Hour Economy agenda, which seeks to increase productive activity, promote value addition and create sustainable employment.
Tanoh said the investment was expected to generate thousands of direct and indirect jobs, particularly for young people and women involved in agriculture and agribusiness.
Agrium Capital Limited Chief Executive Officer Rod Bassett said the investment would be implemented through a proprietary development and design process expected to take 10 to 12 months.
“The process would establish a fully integrated poultry production and operating system covering all major segments of the value chain,” Bassett said.
He said the project would be rolled out in three phases and closely integrated with surrounding rural communities to create sustainable economic opportunities and strengthen local participation.
Bassett said the initiative would create more than 1,000 direct jobs and over 2,500 indirect employment opportunities when fully operational.
He added that the project would support import substitution, rural economic development, skills development among Ghana’s youth and increased household incomes, while improving access to locally produced poultry products and supporting smallholder farmers.
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