24-Hour Economy Secretariat advances $270m poultry project to cut chicken imports

A major investment agreement has been signed to bolster Ghana's poultry industry and decrease the nation's reliance on imported chicken. The US$270 million deal, brokered by the 24-Hour Economy Secretariat, aims to foster an integrated poultry value chain, encompassing feed production, hatcheries, commercial farming, processing, cold-chain infrastructure, and distribution.

The initiative, spearheaded by the Presidential Adviser and Head of the 24-Hour Economy Secretariat, Mr Goosie Tanoh, is set to tackle the country's significant poultry import bill and bolster food security.

The Heads of Terms agreement, signed by representatives of key stakeholders including the 24-Hour Economy Secretariat, Tony Blair Institute, Agrium Capital, Petra Pension Trust, and Axis Pension Trust, represents a critical step towards implementing the poultry investment programme. Ghana currently consumes approximately 340,000 tonnes of chicken annually, but imports 270,000 tonnes at an annual cost of about US$400 million.

Tanoh emphasized that the project's success hinges on supporting the entire poultry ecosystem, from hatcheries and feed production to processing, cold-chain facilities, and market distribution. The Government's broader 24-Hour Economy agenda, which seeks to stimulate continuous productive activity, enhance value addition, and generate sustainable employment, aligns with this investment.

The project, implemented through a proprietary development and design process expected to span 10-12 months, is slated for three phases. Forecasts anticipate the creation of over 1,000 direct jobs and more than 2,500 indirect employment opportunities upon completion. Additionally, the initiative aims to stimulate rural economic development, enhance environmental outcomes, foster skills development among Ghana's youth, and improve nutrition through increased access to locally produced poultry products.