Ghana must accelerate efforts to add value to its agricultural products if it is to maximise export earnings, create jobs and strengthen its position in international markets, according to the Head of Agribusiness at Absa Bank, William Nettey.
Speaking during the On-Air Series of the Citi Business Festival on the theme “From Farm to Factory to Export,” Mr. Nettey said the country continues to lose significant economic opportunities by exporting large volumes of agricultural commodities in their raw form.
He stressed that value addition remains one of the most effective ways to increase returns from agriculture while driving industrial growth and economic transformation.
Focus on Processing Rather Than Raw Exports
According to Mr. Nettey, Ghana has established itself as a major producer of several export crops, particularly cocoa, but must now focus on expanding processing capacity to retain more value within the economy.
He noted that although some progress has been made in semi-processing cocoa products, there is still considerable room for growth.
“So we know the crops that do well for us when it comes to exports. We do cocoa, everybody knows cocoa, but now we need to add value,” he said.
He explained that processing agricultural products locally creates additional revenue streams and strengthens the country’s export portfolio.
Cashew Sector Offers Significant Potential
Mr. Nettey identified cashew as another sector with enormous opportunities for value addition.
While acknowledging ongoing efforts to process cashew locally, he said production levels remain relatively low compared to neighbouring countries.
According to him, the financial benefits of processing cashew are substantial.
“If you export a raw cashew and you process a cashew and sell it, the difference is significant. It is like three times what you get from the process, and it can go as high as six times when it is fully processed,” he explained.
Opportunities Beyond Cocoa and Cashew
The agribusiness expert also pointed to shea, mangoes and fruit-based products such as jams as sectors with strong growth potential.
He said Ghana’s shea industry already supports thousands of women and rural households, but larger-scale processing could significantly increase incomes and export revenues.
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Similarly, he noted that growing demand for Ghanaian mangoes and processed fruit products in international markets presents opportunities for further expansion.
Production Must Increase
While advocating value addition, Mr. Nettey emphasised that increasing agricultural production remains equally important.
He argued that Ghana’s favourable climate, fertile soils and natural water resources provide a strong foundation for expanding output across multiple value chains.
However, he stressed that achieving meaningful growth will require greater investment in production, storage facilities, processing infrastructure and export logistics.
Building a Competitive Agricultural Economy
Mr. Nettey believes Ghana has the potential to become a leading agro-processing hub if the right investments and policies are put in place.
He said moving agricultural products from the farm to the factory before export would not only increase foreign exchange earnings but also create employment opportunities and strengthen the country’s industrial base.
The comments formed part of discussions at the Citi Business Festival, one of Ghana’s leading platforms for business dialogue and enterprise development, which brings together policymakers, investors and industry leaders to discuss strategies for economic growth.
