The Government of Ghana has hinted that it expects to conclude the partnership agreement with the MasterCard Foundation to provide financial and technical support for the Economic Enclave Project in 2023.
The project forms part of the Phase II of the Ghana CARES program which aims to support the private sector in targeted sectors to accelerate competitive import substitution and export expansion.
According to Finance Minister, Ken Ofori-Atta, the programme will facilitate the full cultivation of the 20,000-acre rice farm in the Asutsuare-Tsopoli enclave. Mr. Ofori-Atta disclosed that in collaboration with the National Service Secretariat, the programme will commence cultivation on the 50,000 acres in the Sekyere Kumawu District with a focus on maize and poultry.
“Consistent with the private sector-led approach, the programme will also engage interested private sector actors to expand and cultivate the land in the AsutuareTsopoli area based on the Partnership Framework. The same approach will be adopted for the lands secured in the Ashanti, Central, Oti and Savannah Regions.”
Ken Ofori-Atta
New direction of the Ghana CARES programme
It has been two years since the launch of the GhanaCARES programme to mitigate the severe impact of the COVID-19 pandemic on the economy.
However, the current macroeconomic challenges facing the economy, manifesting in high food prices and pressures on the local currency, validates the current focus of the Ghana CARES Programme to bolster the productive and export capacity of the private sector, the finance minister explained.
To this end, he disclosed that an Economic Enclave project anchored on commercial farming, is being undertaken to significantly “expand our productive capacity in rice, tomato, maize, vegetables and poultry”.
Mr. Ofori-Atta highlighted that the program will be a new effort at expanding agricultural production and productivity with focus on providing support for the cultivation of up to 110,000 acres of land in the Ashanti, Central, Greater Accra, Oti and Savannah Regions.
The role of government is to facilitate access to serviced arable lands for large scale commercial farming in strategic locations by focusing on land development and construction of irrigation facilities.
“In this regard, the programme facilitated the acquisition of a 10,000-acre land and is also supporting an existing 10,000-acre farm in the Asutsuare-Tsopoli area to cultivate rice and vegetables. Currently, 2,000 acres of land is cleared and being developed. Planting of rice on 1,000 acres is expected to be completed by end 2022. This is expected to yield about 6,000mt for the first season.”
Ken Ofori-Atta
Ghana CARES to offer catalytic support in some targeted areas
Mr. Ofori-Atta stated that in addition to the Enclave Programme, Ghana CARES in 2023, will continue to offer catalytic support in some targeted areas.
Next year, the Ghana CARES program will work with the Development Bank Ghana (DBG) to provide funding to interested farmers and also support MoFA to adopt the farmer registration database to deploy the farmer input subsidy programme and enhance efficiency.
Mr. Ofori-Atta further indicated that the Ghana CARES program will support the Ministry of Communication and Digitalization to establish a tech hub to improve knowledge in Technology and innovation by the youth, in collaboration with the University of Ghana and also help promote research, multiplication and commercialization of locally-bred and climate-resistant varieties of targeted plants.
Furthermore, the government under the Ghana CARES program will ensure the operationalization of the foundry under a sustainable private sector management framework and provide interest rate subsidies and direct financing; including supporting prioritized sectors in the rural economy through the ARB Apex Bank and its network of banks as agreed under the Post-COVID Skills and Productivity Enhancement Project.
In 2023, the government under the Ghana CARES program, noted that it will support the implementation of the National Unemployment Insurance Scheme and the promotion of tourism through infrastructure refurbishments and services.
READ ALSO: Road Contractors Will Be Paid Before December 31 – Amoako Atta
