The Ghana Investment Promotion Authority (GIPA) has urged food and agro-processing companies to establish processing plants in Ghana. This call specifically targets firms operating within free zone enclaves, encouraging them to leverage the abundant raw materials in the cashew sector.
This strategic move aims to transform raw cashew apples into value-added products like fruit juices and jams. It will also significantly reduce the substantial post-harvest losses recorded annually across the country. The initiative seeks to boost local industrialization and create new economic opportunities.
This initiative fits into Ghana's broader economic strategy to diversify its export base and move beyond raw material exports. Ghana has long sought to add value to its agricultural produce, a key component of its industrial transformation agenda. The focus on regional investment also aligns with efforts to decentralize economic development.
Mr. Abdul Razak Abass, Deputy Chief Executive Officer of GIPA, highlighted the urgency during the Bono Regional Investment Roadshow in Sunyani. He stated that approximately 1.8 million cashew apples go to waste each year on farms in the Bono Region. This represents a significant loss of potential revenue and resources.
The Bono Regional Minister, Mr. Joseph Addae Akwaboah, emphasized the region's rich endowment of raw materials. These include cashew, maize, and timber, which require urgent industrial value addition. He noted that agriculture and agro-processing are critical sectors for driving socio-economic development in the region.
Mr. Abass also presented data revealing a stark imbalance in national investment distribution. Between 1994 and 2025, Ghana recorded $54 billion in direct investments nationwide. However, the Bono Region attracted only GHS 54 million, a negligible 0.003 percent of the total.
This disparity underscores the need for targeted investment promotion in regions with high agricultural potential. The government is prepared to offer tax incentives to companies willing to invest in the Bono Region. These incentives aim to attract both local and foreign capital into the processing sector.
The Ashanti Regional Director of the Ghana Free Zones Board clarified that many companies within free zone enclaves are Ghanaian-owned. Of the 358 registered companies under the free zones scheme, 169 are wholly owned by indigenous Ghanaian entrepreneurs. This dispels the notion that these enclaves are exclusively for foreign businesses.
Transforming these agricultural resources through industrialization will support farmers and reduce post-harvest losses. It will also create jobs and strengthen the economic base of communities across the Bono Region. This will contribute to overall national economic resilience.
Ogyeamansan Boahen Korkor, Paramount Chief of the Sunyani Traditional Area, commended GIPA for highlighting these opportunities. He assured that traditional authorities are ready to collaborate with institutions committed to advancing the region's development agenda. This local support is crucial for successful investment projects.
The push for cashew processing in the Bono Region could significantly boost local economies and reduce reliance on raw material exports. Investors will be watching for the specific tax incentives and infrastructure support offered by the government. The success of this initiative could serve as a model for other agricultural regions in Ghana.