The Chief Executive Officer of the Tree Crops Development Authority (TCDA), Andy Osei Okrah, has described President John Dramani Mahama’s $500 million pledge to expand oil palm cultivation as a bold move to reposition Ghana’s tree crops sector as a major pillar of economic growth.

The investment is earmarked for the development of 100,000 hectares of new oil palm plantations. The initiative is expected to generate approximately 250,000 jobs, while reducing Ghana’s long-standing reliance on cocoa exports and broadening the country’s agricultural base.

Speaking on the Asaase Breakfast Show on Thursday, Okrah said the scale of the commitment reflects government’s determination to unlock the commercial potential of the sector. He revealed that discussions are already underway with development partners and international financiers to mobilise the required capital.

“That alone tells you the money is there,” he said, adding that although oil palm will serve as the anchor crop, others also hold significant commercial promise.

In addition to oil palm, the strategy covers cashew, coconut, rubber, mango and shea. According to the TCDA, these six priority crops have the capacity to significantly strengthen Ghana’s position within the global agricultural value chain through expanded production and value addition.

Projections from the Authority indicate that each crop could potentially generate about $2 billion annually, raising total export earnings to an estimated $12 billion per year if targets are achieved.

At present, Ghana’s entire tree crops sector generates roughly $750 million, a modest share of the estimated $230 billion global market — a gap that highlights the room for expansion.

Okrah noted that investor interest is already growing, with recent engagements attracting private sector commitments involving substantial land acquisitions and capital investments worth hundreds of millions of dollars.

He stressed that transparency and accountability will be central to implementation. Government-backed interventions, including seedling distribution, grants and farmer support programmes, will be subject to public monitoring to ensure results.

“This is not a talk show. This is an impact investment drive,” he emphasised.