Magazine article African Business

The World Bank Reports

Magazine article African Business

The World Bank Reports

Article excerpt

Ghana's agriculture sector strategy is organised around six priority themes. These are Food Security and Emergency Preparedness; Increased Growth in Incomes; Increased Competitiveness and Enhanced Integration into Domestic and International Markets; Sustainable Management of Land and Environment; Science and Technology Applied in Food and Agriculture Development; and Improved Institutional Coordination. The policy principles include a pro-poor focus, attention to regional balance and gender inclusion (in an effort to promote greater gender equality) and consideration of environmental and social sustainability. The required investment framework to implement it is articulated in the Medium Term Agriculture Sector Investment Plan, prepared by the Ministry of Food and Agriculture (MoFA) and which constitutes the national agriculture investment plan under the Comprehensive African Agriculture Development Programme. Broadly speaking, Ghana's commercial agriculture agenda is defined by elements of the programmes seeking to increase incomes and drive up competitiveness and market integration.

Other policies also have a major bearing on outcomes in the agriculture sector. Of particular importance is the Second Private Sector Development Strategy (PSDS II). The PSDS II will aim to increase by 20 percent, in real terms, the income of rural people in general and particularly in the poorer Northern and Central areas through more productive agriculture. The strategy highlights increasing the productivity of agriculture and the efficiency of agricultural value chains by supporting public and private initiatives as a sub-component of one of the five main outputs. Ghana's new Financial Sector Strategic Plan (FINSSP II) highlights the importance of agricultural lending, relevant financial products such as crop insurance etc, as well as broader financial sector issues that have a less direct but nevertheless important bearing on the development of the sector such as the stock exchange on which agribusinesses may wish to be listed. …

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