The Millennium Development Authority (MiDA) is partnering with the International Finance Corporation (IFC) to boost agribusiness investment and drive large-scale agricultural transformation in Ghana.

The collaboration was announced during a working visit by Kyle Kelhofer, IFC’s Senior Manager for Ghana, Liberia, and Sierra Leone, to MiDA’s Chief Executive Officer, Mr. Alexander Kofi-Mensah Mould.

Discussions focused on forging strategic partnerships to unlock the potential of key agricultural enclaves across the country.

Mr. Mould briefed the IFC delegation on MiDA’s development of three major agricultural economic zones in Kasunya, Oti, and Afram Plains—spanning nearly 50,000 acres of arable land earmarked for commercial agriculture. Critical infrastructure—including irrigation systems, electricity, road networks, and residential facilities for anchor farmers—is currently under construction in these areas.

Once completed, the lands will be leased to private developers to establish large-scale farming operations.

However, Mr. Mould stressed the need for comprehensive feasibility studies to guide investment decisions and ensure cost-effectiveness, particularly in relation to land use and infrastructure.

“To attract the necessary funding, we need well-conducted feasibility studies, especially on irrigation and infrastructure costs,” he noted.

He added that MiDA has been actively profiling anchor farmers and gathering insights from the field to help shape agricultural policy and inform decision-making under President John Mahama’s administration.

Highlighting government priorities, Mr. Mould reaffirmed the commitment to reducing Ghana’s import bill and achieving food self-sufficiency through focused investments in agriculture.

Drawing on his background in banking, Mr. Mould also revealed efforts to collaborate with policymakers to roll out targeted subsidies—covering farm infrastructure, land clearing equipment, and irrigation tools—to support farmers and boost productivity.

In response, Mr. Kelhofer pledged IFC’s technical and financial support to conduct detailed feasibility assessments for the three enclaves. He also expressed the IFC’s readiness to attract foreign direct investment, citing the success of a similar initiative the IFC implemented in Sierra Leone.

The partnership between MiDA and IFC is expected to mark a transformative milestone in Ghana’s quest to become a regional leader in agribusiness and food production.