Business in Ghana

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Posts Tagged ‘Palm Oil’

What the World Bank should know about Ghana’s Success Stories

Posted by Business in Ghana on December 1, 2010

By Thompson Ayodele, Imani and www.africaliberty.org

Two decades ago, the rest of the world saw Africa as a hopeless continent. Today Ghana is one of Africa’s success stories.  Its economy, spurred by a thriving private sector, has grown on average by over 6 percent a year for the past five years. A significant part of this growth has been fueled by the success of the country’s palm oil industry, with over 300,000 hectares of land currently under cultivation.

Palm oil provides a major source of employment and revenue for Ghanaian smallholders, with 27,000 farmers engaged in the industry. The Ghanaian government recognizes the huge role palm oil plays in the economy, investing more than $3 million in the industry so far, and recently announcing a “master plan” to support expanded production. Read the rest of this entry »

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