OIL PALM DEVELOPMENT.

Agriculture contributed 5.2% of Ghana’s Gross Domestic Product in 2025. The agrarian sector employs about 38% of Ghanaians, who are mostly engaged in seasonal farming. The government’s strategic partnership with the World Bank and other financial institutions to invest US$500 million in Oil Palm development over the next 5 to 7 years is remarkable. Aside cocoa, other tree crops have not received much attention and investment.

This is consistent with the purpose for establishing the Tree Crop Development Authority through an Act of Parliament, Act 1010, 2019: to provide financing and technical assistance for six essential tree crops.
The long-term investment in the oil palm sub-sector demonstrates Ghana’s readiness to capitalise on its annual growth potential of 5% and estimated global market share of about $100 billion by 2035.

The Minister’s reason for imposing a tax stamp regime on edible oil products– to eliminate smuggling and under-declaration– could not be achieved due to Ghana’s informal market. The policy does not consider the 65% informal market, where repackaging and reselling of products to consumers are prevalent.

To achieve a more effective outcome, we advise that revenue authorities should rollout nationwide law enforcement operations, and the government must provide sustainable financing to aid their effort in formalising the market.