The Chief Executive Officer of Development Bank Ghana, Prof. Randolph Nsoh-Ambala, stated that the government’s $500 million financing facility for the oil palm sector is designed to stimulate private investment and modernize Ghana’s oil palm industry.
Announced in the 2026 Budget by Finance Minister Dr. Cassiel Ato Forson, the fund will offer long-term financing to stakeholders across the oil palm value chain, featuring a five-year grace period on both principal and interest repayments.
During a roundtable discussion on oil palm financing in Accra, Prof. Nsoh-Ambala emphasized that the programme aims to reorganize the sector, boost productivity, and enhance local processing capacity, reducing Ghana’s reliance on imported palm oil.
“There has been some misunderstanding about the purpose of this fund,” he said. “The government’s goal is to transform fragmented production units into a cohesive ecosystem, achieving supply chain independence while satisfying domestic demand.”
He highlighted that the initiative fits within the broader strategy of using public financing to attract private sector capital into key economic sectors.
“The core idea is that sustainability comes from creating opportunities for the private sector to take the lead,” he added.
Meanwhile, Paul Kwabena Amaning, President of the Oil Palm Development Association of Ghana, called for a focus on organized farmer groups and cooperatives in the rollout of the financing facility.
He emphasized that supporting structured farmer associations is essential for increasing productivity, enhancing efficiency, and expanding market access within the sector.
“The facility should prioritize organised groups, strengthen agricultural systems, improve processing, and promote community-level value addition,” Amaning said.
He further urged the government to implement the programme according to a clear schedule to achieve measurable results.
“Within six months, we should have operational structures and pilot funding in place. Within 12 to 18 months, plantation expansion, replanting, and processing activities should begin. And within three to five years, we should witness real outcomes reduced imports and increased domestic production,” he added.
The $500 million facility is expected to drive plantation growth, enhance local processing capacity, generate employment, and support Ghana’s efforts to become more self-sufficient in palm oil production.