Ghana to invest $500m in oil palm under ‘red gold’ initiative – President Mahama
Ghana is set to invest $500 million to develop 100,000 hectares of oil palm plantations under the National Policy on Integrated Oil Palm Development, dubbed the “Red Gold” initiative, President John Dramani Mahama has announced. The project is expected to create 250,000 direct jobs and significantly reduce the country’s reliance on imported palm products.
Speaking at the inaugural Ghana Tree Crops Investment Summit and Exhibition 2026, President Mahama emphasized the transformative potential of the sector.
“If we achieve this target, it will eliminate the 40 percent oil palm imports we currently rely on and position Ghana as a net exporter,” he said.
The President described the initiative as part of a broader strategy to diversify Ghana’s agricultural sector and industrialize tree crop production. “These are not secondary crops — they are engines of transformation,” he said, noting that tree crops such as oil palm, cashew, shea, coconut, rubber, and mango collectively employ over 1.6 million Ghanaians and support rural livelihoods.
President Mahama also tied the oil palm expansion to the government’s vision for a 24-hour economy, where production, processing, logistics, and exports operate continuously to maximize productivity and create sustainable jobs.
“Tree crops are well positioned within this 24-hour economy framework,” he said. “We will no longer export raw cashew, raw shea, or unprocessed rubber while importing finished goods at higher prices. Our target is clear: 50–60 percent local processing annually, expansion of agro-industrial parks, incentives for private-sector processors, and stronger regulatory oversight.”
The Red Gold initiative is part of a wider $200 million World Bank-supported Ghana Tree Crop Diversification Project. Under the programme, millions of cashew, rubber, and coconut seedlings will be distributed to over 30,000 farmers, while 185 small and medium enterprises will receive matching grants.
President Mahama said the project aligns with Ghana’s green economy goals, adding that tree crops are “climate-positive assets” that enhance carbon sequestration, reduce soil degradation, and promote biodiversity.
“Our 2035 ambition remains bold — $12 billion in annual exports, translating into approximately $2 billion per crop across the priority sectors,” he said. “Yes, it is ambitious. But it is achievable — if we work together.”
He concluded by inviting both local and international investors to seize opportunities within the oil palm and wider tree crops sector, describing the summit as a turning point for Ghana’s agricultural and industrial transformation.
“I hereby declare the Ghana Tree Crops Investment Summit and Exhibition 2026 officially open,” President Mahama said.
