Ghana’s poultry industry is poised for a major investment boost after United Kingdom-based agrifood investment firm Agrium Capital agreed to advance $270 million to help transform the sector.
The firm signed the agreement with the 24-Hour Economy and Accelerated Export Development Programme (24H+) in London yesterday, building on the Heads of Terms both parties signed on August 22 this year.
The signing was witnessed by key partners, including Petra Trust, Axis Pension Trust and Ghana EXIM Bank, and signals a move into the next stage of project development.
The addendum is intended to advance the technical and investment preparations needed to turn the initial framework into a commercially productive poultry industry.
The initiative aims to increase local poultry production, improve food security, generate 12,000 direct jobs and cut Ghana’s annual $400 million expenditure on imported chicken and poultry products.
Under the first phase, the project is expected to produce 20,000 tonnes of dressed and processed broiler products annually, with plans to scale production up to 50,000 tonnes.
Mobilising private capital
The Presidential Adviser on the 24H+ Programme, Augustus Goosie Tanoh, told the Daily Graphic after the signing ceremony in London yesterday that the agreement reflected the programme’s commitment to mobilising domestic and international private capital into productive sectors.
He said the addendum strengthened the partnership and advanced the project from investor engagement to commercially viable project preparation.
Mr Tanoh described the initiative as an example of how foreign private investment could be combined with Ghanaian institutional capital to establish large-scale industrial operations.
The investment partnership comprises Agrium Capital, a subsidiary of Asset Green Ltd, alongside Petra Trust, Axis Pension Trust and Ghana EXIM Bank.
Its integrated operations are expected to cover the entire poultry value chain, from feed production and breeding to hatchery operations, broiler production, processing, cold-chain infrastructure, logistics and market access.
Strengthening bilateral ties
The UK has welcomed the investment, describing it as a boost to trade and economic cooperation between the two countries.
The Tony Blair Institute for Global Change, which hosted the initial signing in Accra in August, has been recognised as a catalytic partner in connecting international investors, domestic institutional capital and the government.
Petra Trust Managing Director Kofi D. Fynn said the involvement of Petra Trust and Axis Pension Trust reflected the pension sector’s willingness to invest long-term funds in productive economic activities.
“We are ready to put our capital to work in support of the goals and objectives of this country,” he said.
