As a step towards self-sufficiency, the government is determined to invest US$684 million in local rice production and processing.
The choice, made at the most recent Dakar II Summit, aims to boost regional rice production to achieve self-sufficiency. Also, it will lessen the nation's $560 million yearly rice import cost and its resulting effect on the cedi depreciation. This will be accomplished through increased productivity, extending the production area, enhancing post-harvest rice quality, and adding value.
The investment is anticipated to boost yields by around 30% while increasing domestic rice production from the current 1.14 million tonnes annually to 2.4 million tonnes.
Robert Ankobia, the Chief Director of the Ministry of Food and Agriculture, who made this information public to the B&FT at an agriculture roundtable discussion hosted by Mennonite Economic Development Associates (MEDA) in Accra, said the funds will also help restore 21,000 hectares of irrigated land, develop 81,000 hectares of new rain-fed rice fields, and increase certified seed production to 25,000 tonnes annually.
Accordingly, MoFA noted that US$21 million will be spent on research and development programmes aimed at increasing access to high-quality rice varieties; US$613 million on land development programmes, including irrigation; US$18 million on programmes for technical assistance; and US$32 million on post-harvest technologies and programmes.
According to Mr Ankobia, "the above plan to invest in local rice is part of paths and the country's compact during the Dakar II Summit to achieve self-sufficiency and agrifood transformation for the next five years."
The prioritisation of essential subsectors having the greatest influence on food security, with special attention to chicken, rice, and soybean, is one of the compact's salient aspects.
The country's food value chain is the main emphasis of the compact, which also focuses on production expansion and loss mitigation.
Robert Austin, Country Director of MEDA Ghana, emphasised that to set the nation on the path of progress, the government must prioritise investments in agriculture.
According to Mr Austin, the debate, with the title "Investing in agriculture for employment," was required to start the discourse on the development of jobs for young people in the agricultural industry.
MEDA is a global organisation for economic development that develops commercial anti-poverty strategies. MEDA has been developing scalable, quantifiable, and sustainable corporate solutions to poverty for almost 70 years.
The Dakar Summit, co-hosted by the African Development Bank Group and hosted by Macky Sall, President of the Republic of Senegal and Chairperson of the African Union, brought together governments, the private sector, multilateral organisations, non-governmental organisations, and scientists to address the growing problem of food security in Africa.
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