Dr Bryan Acheampong, Minister for Foods and Agriculture (MOFA), says the Golden Exotics Limited (GEL), has carved a remarkable niche in the agricultural landscape.
He said from its humble beginnings two decades ago, the company had burgeoned into a powerhouse, employing 4,000 permanent workers.
Dr Acheampong said this during the climax of the 20th anniversary celebration of the Golden Exotics Limited, Ghana’s largest banana exporter in Asutsuare.
“With over 2000 hectares of banana plantation, annual exports amounting to 100,000 tons of bananas, and a distinguished position as one of the largest suppliers of Fairtrade Bananas to Europe,” the Minister added.
He said within some months, a 1,750-hectare land was acquired from the MOFA through the Ghana Irrigation Development Authority on the extension of the Kpong Irrigation Project.
Dr Acheampong said the land was the long-abandoned sugarcane fields of the erstwhile Ghana Sugar Estates which could not be developed for rice cultivation because water had to be pumped at high cost from the lower canals to the area which was higher.
He said the Company generated over 60 million Euros annually in foreign exchange and contributed more than 20 million Euros to the local economy through salaries, purchases, electricity, and rent, the company exemplifies the transformative potential of agricultural investments.
“Indeed, if Ghana had 20 similar projects, the ramifications for employment and economic growth would be profound,” he added.
The Minister said with 80 per cent of products exported to Europe and the remaining 20 per cent to countries including Senegal, Burkina Faso, Mali, Niger, and Benin, Golden Exotics was poised to capitalise on the opportunities presented by the roll-out of the African Continental Free Trade Area (AfCFTA).
“Furthermore, I acknowledge Golden Exotics’ significant contribution to road maintenance, spending close to GH₵2 million annually on maintaining and repairing roads to and around the plantation,” he said.
Nana Ama Asiama-Adjei, the Deputy Minister of Trade and Industry, in a speech read on her behalf by Mr Benjamin Asiam, Head, Export Trade Development of the Ministry, said currently, banana was the most exported horticultural crop in terms of volume and value in Ghana.
She said as a non-traditional export crop and an emerging industry, Ghana’s banana export had significantly increased in the last 15 years, from 32, 240 tons in 2007 to 108, 379 tons in 2021, largely due to the success of GEL.
Nana Asiama-Adjei said since 2005, the Company had dominated Ghana’s horticultural exports, accounting for 82 per cent share of sea shipment and about 70 per cent by both air and sea.
Presently, the Company has over 2,000 hectares of banana plantation consisting of 12,000 conventional banana farms at Kasunya, 600 hectares of organic banana plantation also at Kasunya, and one of the single largest organic banana in one location in the world.
“A new banana plantation in the Volta Region was started at Torgorme in Kpong, for which 200 hectares have now been planted,” she added.
The Deputy Trade Minister said the government was committed to making Ghana a leading West Africa export hub.
Mr Benedict Rich, Managing Director, GEL, said farming was the best way in which a country could transform people’s lives, and that farming done well could improve the economy and even the environment.
“But it is rare in Ghana for a farm to have such a transformative effect, and that is because of their philosophy, which we will talk more about later,” he added.
The Managing Director said in 2006, they had 150 hectares and exported 7000 tonnes, adding that a year later, they expanded to 400 hectares and exported nearly 20,000 tonnes.
He said in the last 20 years, they had renovated all their Corporate Social Responsibility projects in the surrounding areas.
Mr Rich said for the two decades, the banana plantation had been a beacon of hope and opportunity for the communities they served.
The Managing Director said low productivity was still a major challenge, with poor roads and inadequate infrastructure presenting formidable obstacles to their operations, threatening to hinder their ability to deliver on their commitments.
He said GEL had adopted the use of drones, working with the Ghana Civil Aviation Authority for precision agriculture, where leveraging on drone technology made it possible to monitor crops more efficiently.
