MiDA partners IFC to boost agribusiness
The Millennium Development Authority (MiDA) is set to collaborate with the International Finance Corporation (IFC) to transform the agricultural sector through a major boost in agribusiness investment and development.
This came up during a working visit by IFC Senior Manager for Ghana, Liberia, and Sierra Leone, Kyle Kelhofer, to the office of MiDA.
The meeting centred on strategic partnerships aimed at unlocking the potential of key agricultural enclaves across the country.
Briefing
Briefing the IFC official, the Chief Executive Officer of MiDA, Alexander Kofi-Mensah Mould, highlighted MiDA’s ongoing efforts in developing three major agricultural economic enclaves located in Kasunya, the Oti Region, and Afram Plains in the Eastern Region.
The areas collectively span nearly 50,000 acres of arable land earmarked for large-scale agribusiness development.
Mr Mould said MiDA was currently constructing critical infrastructure in the enclaves — including irrigation systems, electricity supply, road networks and housing for anchor farmers.
Once development was complete, the lands would be leased to private developers for commercial farming activities.
However, Mr Mould emphasised the need for robust feasibility studies to ensure the viability and cost-effectiveness of the planned infrastructure investments.
“To attract the necessary funding, we need comprehensive feasibility studies done, especially regarding land use and infrastructure costs, including irrigation,” he said.
He also mentioned that he had been travelling across the country to profile anchor farmers, understand their challenges and gather insights that could help shape policies aimed at supporting President John Mahama’s administration in making informed decisions on agricultural enclave development.
Highlighting government priorities, the MiDA CEO reiterated the administration’s commitment to reducing the national import bill and achieving food self-sufficiency through targeted investments in agriculture.
Mr Mould, who is also a former CEO of Ghana National Petroleum Corporation (GNPC) and Executive Director, Wholesale Banking, at Standard Chartered Bank, stated that he was collaborating with the government and policymakers to provide targeted subsidies for farmers.
“These subsidies focus on farm infrastructure development and agronomic inputs and tools —particularly machinery for land clearing and development, as well as irrigation equipment,” he stated.
IFC willing
In response, Mr Kelhofer pledged IFC’s support in undertaking detailed feasibility assessments for the three agricultural enclaves.
He also assured MiDA of IFC’s willingness to mobilise potential foreign direct investors for the project, drawing parallels with a similar initiative the IFC successfully implemented in Sierra Leone.
The partnership marks a significant step towards transforming Ghana’s agricultural landscape and positioning the country as a key player in regional food production and agribusiness.
