The Soya Value Chain Association of Ghana has identified soya as a promising cash crop with the potential to revitalize and stimulate the economy of the country.

According to the association, soya has the potential to become a leading source of revenue like or even surpassing cocoa. The Soya Value Chain Association of Ghana made this known during a consultative meeting held in Accra.

The meeting was held as part of the association’s efforts to intensify its advocacy for the development of a national strategic plan designed to promote the expansion and advancement of Ghana’s soybean industry.

The meeting was convened at the Council for Scientific and Industrial Research head office and emphasised the significance of fostering collaboration with government agencies, development partners, farmers, and similar stakeholders.

It was organised in collaboration with GIZ under the Sustainable Employment Agribusiness Programme (AgriBiz) on the theme: “A National Soya Strategy Plan for Ghana’s Economy: Influencing Policy for a Soya-Business Agenda.” The Soya Value Chain Association of Ghana, meanwhile, iterated that soya is progressively becoming a lucrative cash crop for the agricultural sector.

Mr. Yaw Afrifa, Executive Secretary of the association, explained that one of the mandates of the association is to jointly identify key areas for improvement and then come out with an inclusive national strategy to address the challenges of the soya sector.

Increasing Soya Productivity

Mr. Yaw Afrifa averred that the move aims to increase soya productivity, enhance profitability, generate substantial revenue, make a positive contribution to the overall economic growth of Ghana, and guarantee food security.

“If the country looks at soya as a cash crop, it could generate income up to the level of cocoa or even more. And so, this is a very great potential revenue earner for the country.”
Mr. Yaw Afrifa

Mr. Afrifa noted that the lack of proper coordination among industry actors such as development partners, government agencies, and the private sectors within the soya value chain is leading to a limited impact on the overall sector.

“We’re here to look at a national strategy plan for soya; this is because everybody is trying to do something here, something there, and we are not getting the impact.”
Mr. Yaw Afrifa

Mr. Afrifa stressed that if Ghana considers soya as a lucrative agricultural product, it has the potential to generate income more than that of cocoa. He thus, urged policymakers to capitalise on this significant opportunity to generate substantial revenue and reap the numerous benefits of the growing global demand for soy.

Mr. Afrifa also urged both the government and farmers to recognise the immense potential of cultivating soybeans to diversify Ghana’s economy and increase export earnings.

Mr. Afrifa subsequently petitioned parliament, urging a review of the legislation that governs the selection process for members of the export control committee.

However, Mr. Dominic Ayine, Member of Parliament for Bolgatanga Central and chairman of the subsidiary legislation committee of parliament, advised that the process should begin from the Ministry of Trade and Industry, which is holding jurisdiction over it.

The consultative meeting also called for establishment of a formal collaboration with stakeholder organisations like the Alliance for the Green Revolution in Africa, the Ministry of Food and Agriculture, and the Ministry of Trade and Industry.