By Jibril Abdul Mumuni
Accra, Sept. 6, GNA – The 24-Hour Economy Secretariat and Accelerated Export Development Authority has mobilised financing commitments exceeding GHS1 billion to support Ghana’s poultry value chain.
The financing forms part of efforts to boost local production, create jobs and reduce the country’s dependence on imported chicken.
Mr Arnold Parker, Funding Team Lead of the Secretariat, said the finances would support investments across the poultry value-chain to include feed production, day-old chick supply, equipment, processing, storage and veterinary services.
Speaking at the National Transformation Poultry Programme stakeholder discussions in Accra, Mr Parker said the Secretariat had secured strong commitments from financial institutions and investors to drive the initiative.
The funding would be undertaken by private sector actors, notably ABSA, Fidelity and Ecobank.
The first phase of the programme targets about GHS300 million, with additional financing expected to be mobilised after the initial implementation cycle.
“The funds are ready, but we must put in place the right structures to draw down the financing and deploy it effectively across the industry,” Mr Parker said.
He noted that the programme was not solely focused on increasing production but on strengthening the entire poultry value-chain from input suppliers and breeders to processors and off-takers.
The initiative also aligned with Ghana’s Accelerated Export Development agenda, which sought to position locally produced poultry products for regional and international markets.
Mr Parker stressed the need for financing products that reflected the realities of poultry production cycles, saying conventional lending structures often placed undue pressure on farmers.
He explained that banks and industry players would work together to develop customised financing solutions tailored to poultry operation.
The financing initiative comes at a time when Ghana remains heavily reliant on imported poultry products.
The 2024 Budget Statement said the country consumed about 324,047 metric tonnes of poultry in 2022 but produced only 15,000 metric tonnes locally, representing just 4.6 per cent of national demand.
As a result, about 95 per cent of poultry consumed in Ghana is imported, mainly from Brazil, the United States and Europe.
The Ghana National Association of Poultry Farmers estimates that the country spends nearly US$400 million annually on imported poultry products.
Mr Parker said the new financing framework would address those constraints by providing targeted support throughout the value-chain while strengthening enterprise management and technical capacity.
The Secretariat would collaborate with research institutions, including the Council for Scientific and Industrial Research, to improve productivity and support innovation in the industry, he noted.
GNA
Edited by Agnes Boye-Doe