The Ghana Investment Promotion Centre (GIPC) is intensifying its nationwide search for viable industrial assets, signaling a strategic shift toward data-driven capital mobilization in the country’s agricultural heartland.
Under its Investment Opportunities Mapping Project (IOMP), a delegation led by Mr. Kwame Kesse-Agyepong, Deputy Director and Head of Investment Promotion and Business Development, recently toured the Ashanti Region to identify high-potential firms.
“The GIPC is committed to identifying and mobilizing investable opportunities that drive job creation and foster resilient agro-industrial development across Ghana. We are engaging local businesses and advocating policy support to make Ghana’s regions truly investment-ready”
Ghana Investment Promotion Centre
The mission is part of the Centre’s broader mandate to decentralize economic growth, moving beyond Accra to catalyze local value addition in the palm oil and soybean sub-sectors. The roadshow underscored a commitment to transforming local agribusinesses into investment-ready entities capable of absorbing foreign and domestic capital.
One of the primary stops on the delegation’s tour was Juaben Oil Mills Limited in Kumasi.
“Operating since 1984, the company manages a 366-hectare plantation and multiple processing facilities, including a 60-ton-per-day mill and a 50-ton-per-day refinery powered by biomass. These upgrades position the company for significant growth in domestic supply chains”
Ghana Investment Promotion Centre
Since its inception, the company has grown into a sophisticated operation. During the visit, Managing Director Mr. Alex Owusu emphasized that the company is ready to transition to the next phase of its lifecycle. Their ambition involves a $12.9 million expansion plan that would see the plantation footprint grow to 5,000 hectares and refinery capacity jump to 250 tons per day.
For the GIPC, Juaben Oil Mills represents the exact type of homegrown enterprise that fits the national development model, and by leveraging biomass energy to power its refining operations, the mill is already demonstrating efficiency that can be replicated across the sector.
However, to meet its target of reducing reliance on external raw materials – currently only 10% of their input is sourced from their own plantation – the company requires significant capital injection. The GIPC’s role is to package this requirement and present it to the “global investor community as a scalable, sustainable business model.”
The agency noted that is creating a comprehensive repository of opportunities that align with Ghana’s national Industrialization agenda by visiting legacy producers and emerging processors. This mapping project is not merely an observational tour; it is a tactical effort to de-risk these enterprises for potential investors while providing a clear roadmap for the companies to scale their operations.
The Soybean Value Chain
In the Bosomtwe District, the GIPC team turned its focus toward the soybean value chain at Vester Oil Mills in Kuntanase-Deduako.
This visit highlighted the need for deeper integration within the domestic market. Unlike palm oil producers who focus on refining and packaging, Vester Oil Mills showcases the complexity of solvent extraction, which is critical for processing northern-grown soybeans into high-value agricultural byproducts.
The firm’s management team, led by Mr. Kwesi Nyamekye, highlighted the potential for substantial growth if they can successfully bridge the gap between regional cultivation and high-end industrial processing.
He revealed that Vester Oil Mills is seeking approximately $5 million to expand its production lines. This investment is not just for raw processing; it includes the launch of dedicated fish and poultry feed production lines, which would allow the company to diversify its revenue streams while providing essential inputs for local livestock farmers.
The company is positioning itself to be a cornerstone of Ghana’s Agriculture sector support programs and maximizing local value addition, through the creation of this internal synergy. The GIPC’s assessment of these needs is vital for ensuring that investors understand the return-on-investment potential inherent in local value-chain integration.
According to the GIPC, the Investment Opportunities Mapping Project is providing the it with the granular data necessary to champion Ghana’s regional development. As the delegation continues its work, the goal is to shift the perception of local firms from “struggling family-owned entities” to “dynamic industrial hubs.”
Mr. Alex Owusu noted that this change in perception requires both a disciplined approach from business owners to standardize their operations and a proactive stance from the state to provide the necessary policy support.
As the GIPC team continues to canvas the nation, the lessons being learned from the Ashanti Region tour will inform how the Administration handles future infrastructure and regulatory support.
By focusing on firms that already have an established footprint – like those at Juaben and Kuntanase-Deduako – the agency is ensuring that its efforts result in tangible production gains rather than just theoretical growth.
This pragmatic approach is essential for achieving the ambitious goals set for the industrialization of the Ghanaian economy by the end of 2026.
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