BUSINESS and FINANCE, POLITICS and GOVERNMENT

Dr Ackah- Ghana Requires a Strategic Agricultural Investment Plan

The head of research, monitoring, and evaluation at the Africa center for energy policy Dr Ackah has indicated that Ghana requires a strategic agricultural investment plan. This is essential to help in economic growth in the country.

The head of monitoring, evaluation, and research at the African center for energy policy Dr. Ackah has reiterated the need for Ghana to have a strategic agricultural investment plan. He said that the move would help the channeling of resources from various sectors to a move that will help in accentuating economic growth in the country. He said that the agricultural sector has shown little growth over the years because of a lack of a solid investment strategy to the sector. According to him, the 2014 financial budget showed that 70% of the agricultural budget went to the construction of four-sea defense instead of enhanced crop production a move he says reduced production in the country.

The head of research has expressed his concern on what he calls laxity by the government to improve and introduce policies that will drive the agricultural sector in the country. Small farmers in Ghana are still facing challenges in accessing loans and other incentives that will help them improve food production and revenue generation in the country. Over the years, the growth in the agricultural sector has been at 7.2% in 2008 and was followed by 0.8% in 2009 and current it has reduced to 0.04% according to reports. This is affecting the purchasing power of the customers and reduction in forex from the local farmers.

The Ghanaian government is replacing the normal allocation to agriculture with oil revenue allocation according to the recent budget and this will cause a reduction in the production of the sector. Many households in Ghana depend on agriculture, as a source of income therefore the move will negatively affect them. He further said that the government should adopt a cost effective measure to help irrigation farms and increase food production in the country.

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