The Ministry of Food and Agriculture (MoFA) has committed four million euros to boost shea production and enhance producer capacity this year.
“We from the Ministry of Food and Agriculture have committed four million euros to build the capacity of our producers of shea to increase the production of nuts this year,” said Mr. Eric Opoku, Minister of MoFA.
He was speaking at the inauguration of the newly sworn-in board of PBC Shea Limited in Accra on Tuesday.
Mr. Opoku announced that an agreement between the Ministry and the African Development Bank regarding the investment would be signed shortly.
“We hope that within the coming days, the agreement will be signed, and four million euros will be available for investments into shea production.”
Mr. Opoku highlighted that the shea sector in Ghana is largely dominated by women, with over 600,000 engaged in harvesting, processing, and selling shea nuts and butter.
“Shea constitutes the major source of income, and so there is a need for us to ensure the establishment of a high-backed agreement between PBC Shea Limited and the farmers.
“This agreement should provide a ready market for farmers’ produce and create financial certainty and security among the farmers,” he said.
The Minister stated that the agreement would ensure a consistent supply of raw materials to the company and urged the board to lead efforts in harnessing the sector’s potential for increased foreign earnings.
“We just want you to lead the crusade for us to take advantage of our available resources to increase our foreign earnings,” he said.
He noted that Ghana earned $92.6 million from shea butter in 2022 but expressed optimism for greater revenue.
“I believe we can do more than that. We can go beyond $500 million if we work assiduously to achieve the targets set,” he said.
Credit: joyonline