Agriculture experts and UN officials have urged private sector players in Ghana to invest directly in food systems as a strategic path to unlock economic growth and close the country’s $43 billion annual SDG financing gap.
At a high-level Business Executives Dialogue in Accra, Mr. Peter Aidoo, Economist at the UN Resident Coordinator’s Office, emphasized that food systems offer a critical opportunity for private capital.
Mr. Peter Aidoo called for regular collaboration between agribusiness leaders, banks, and policymakers to institutionalize private sector participation in sustainable development. The dialogue was held under the theme; “Financing Ghana’s Sustainable Future and Strengthening Private Sector Contribution to the Voluntary National Review process.”
Stating that the General Assembly of the UN in 2023 agreed all developing countries must, among other things, review policy and regulatory frameworks to enhance the enabling environment and accelerate progress in the Sustainable Development Goals (SDGs), Mr. Aidoo expressed his satisfaction about the government’s commitment to the International Monetary Fund, including the strengthening of procurement processes and cancelling the e-levy to bring in some incentives for the private sector to grow.
With agriculture employing over 35% of Ghana’s workforce, contributing 54% of Ghana’s GDP, and accounting for over 40% of export earnings, stakeholders believe that turning food systems into a high-performance sector could significantly impact job creation and food security.
Story by: Caris Adjei London
