Even as Ghana’s oil and gas industry continues to expand, the agricultural sector remains a vital contributor to economic activity, employing more than half of the working population. The country cultivates a rich array of staples and cash crops, and is the second-largest producer worldwide of cocoa.
Even as Ghana’s oil and gas industry continues to expand, the agricultural sector remains a vital contributor to economic activity, employing more than half of the working population. The country cultivates a rich array of staples and cash crops, and is the second-largest producer worldwide of cocoa. The sector experienced a year-on-year growth rate of 4.6% in 2014, according to the Ghana...
Situated on the Gulf of Guinea in West Africa, Ghana’s natural resource wealth and status as a stable democracy have helped make it a prominent player in the region. It is the world’s second-largest exporter of cocoa, behind Côte d’Ivoire, and one of the continent’s largest gold producers. Recently discovered reserves of oil and gas have powered the economy to double-digit growth in the past decade.
The palm oil industry is coming full circle in West Africa. The commodity was first produced in the region as early as the 16th century and commercial trade began in 1820. In the mid-19th century traders transported planting materials from Ghana to Asia, where the climate proved highly conducive for growth. The industry boomed in this new location, leaving Africa behind...
As the world’s second-largest producer of cocoa – behind only its neighbour Côte d’Ivoire – Ghana’s agricultural output and overall economy are dependent on production of the crop, which represents 57% of the sector’s export earnings and over 20% of total export earnings, and employs more than 800,000 farmers.
How do Ghana’s fiscal and currency challenges impact the outlook for agricultural producers?
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