2027 Budget gives GH¢2.9bn to farmers, silos, and machinery

In the 2027 Budget, the government has set aside GH¢2.9 billion for the Ministry of Food and Agriculture to aid farmers in their agricultural endeavors. Funds will be allocated for machinery, fertilizers, silos, and irrigation systems. Finance Minister Dr Cassiel Ato Forson made this announcement during the presentation of the Budget Statement to Parliament on November 12, 2026.

Dr Forson emphasized that increasing Ghana's food production, processing, and exports would bring about wider benefits, such as improved rural prosperity, easier inflation control, and reduced pressure on the cedi.

Agriculture plays a crucial role in the government's New Economy program, with US$3 billion allocated to commercial agriculture over the period of 2027 to 2030. The objective is to eliminate commercial rice imports by 2030. This budget allocation comes at a time when farm growth has been slowing down. According to the Ghana Statistical Service, agriculture grew by 2.6 percent in August 2026, which is a decline from 8.6 percent in the same month of the previous year and 3.7 percent in July.

The Budget also sets aside GH¢3.1 billion for the Ministry of Energy and Green Transition. This sum will be used for extending rural electrification to six regions, which is crucial for farming communities that require power for processing and storage. The funds are directed towards addressing the costs associated with farming, including inputs, machinery, storage, and food supply.

The silos and buffer stock company, which are part of this allocation, aim to reduce post-harvest losses and stabilize food supplies. However, the Budget did not provide specific timelines for the implementation of these initiatives.