The 24-Hour Economy Secretariat, in collaboration with the Accelerated Export Development Authority, has mobilised over GH¢1 billion to support the poultry value chain in Ghana. This initiative aims to boost local production and reduce reliance on imported poultry products.
Significant Financing for Poultry Production
The recent mobilisation of financing commitments exceeding GH¢1 billion marks a pivotal moment for Ghana’s poultry industry. This funding is intended to enhance various aspects of the poultry value chain, including feed production, day-old chick supply, processing, and veterinary services. Mr Arnold Parker, the Funding Team Lead of the 24-Hour Economy Secretariat, highlighted that this initiative is not just about increasing production but also about strengthening the entire value chain. The financing will primarily be provided by private sector actors such as ABSA, Fidelity, and Ecobank, indicating a collaborative approach to addressing the challenges faced by the poultry sector.
Addressing Import Dependency
Ghana has been grappling with a significant dependency on imported poultry, with the 2024 Budget Statement revealing that the country consumed approximately 324,047 metric tonnes of poultry in 2022, while local production was a mere 15,000 metric tonnes. This situation underscores the urgency of the financing initiative, which aims to reduce the 95 per cent of poultry that is currently 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 these imports. The new financing framework is designed to alleviate these constraints by providing targeted support throughout the value chain.
Customised Financing Solutions
Mr Parker emphasised the need for financing products that cater specifically to the realities of poultry production cycles. Traditional lending structures often impose undue pressure on farmers, making it difficult for them to thrive. The initiative seeks to develop customised financing solutions in collaboration with banks and industry players, ensuring that the financial products align with the operational needs of poultry businesses. This tailored approach is expected to enhance enterprise management and technical capacity within the sector, ultimately contributing to a more robust poultry industry.
Collaboration for Innovation and Productivity
The 24-Hour Economy Secretariat plans to work closely with research institutions, including the Council for Scientific and Industrial Research, to foster innovation and improve productivity within the poultry sector. This collaboration aims to ensure that the financing initiative not only addresses immediate financial needs but also supports long-term growth and sustainability in the industry. By strengthening the entire poultry value chain, the initiative aligns with Ghana’s Accelerated Export Development agenda, positioning locally produced poultry products for both regional and international markets.
| Label | Value |
|---|---|
| Total Financing Mobilised | GH¢1 billion |
| Local Poultry Production (2022) | 15,000 metric tonnes |
| Poultry Consumption (2022) | 324,047 metric tonnes |
| Percentage of Imports | 95% |
| Annual Spending on Imports | US$400 million |
“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,” said Mr Arnold Parker.
WHY IT MATTERS
This initiative represents a significant step towards enhancing local production capabilities and reducing reliance on imported poultry, which is crucial for food security and economic growth in Ghana.
Reported from myjoyonline.com, 2026-09-07. The Tender Wire is published by Otnox.
