Mr. Pau März, Managing Director of fairtrade, has noted that, with almost 40 million population, Ghana has a huge food market for Investment.
He added that, the country’s expenditure in the food and beverage sector is growing steadily and is “by far the largest segment of the Ghanaian processing industry”.
According to the World Trade Organization (WTO), Ghana imported food worth USD 1.2 billion and exported food worth USD 1.7 billion in 2021.
“Thus, food trade with Ghana is an USD 8.5 billion business,” he stressed.
Mr. März was speaking in an interview at the 6th International Trade Show for West Africa agrofood and West Africa plastprintpack conference and exhibition in Accra on Tuesday November 21, 2023.
Ghana’s investment in food and packaging technology show an annual growth of 8.6% between 2017 and 2022, from 59 million Euros in 2017 to 89 million Euros in 2022.
The event, which is jointly organised by the AHK Delegation of German Industry and Commerce in Ghana and Fairtrade Messe, aims to help increase Ghana’s self-sufficiency and improve supply.
On her part, the Italian Ambassador to Ghana and Togo, H.E. Daniela d’Oriandi, noted that trade in technical goods between Ghana and Italy grew by 30% reaching 90 million Euros in 2022.
According to H.E. this growth suggests that many more Ghanaian companies are looking for Italian solutions.
“We invest in innovation, training, provide technical assistance, and out products are reliable, and there are many initiatives to promote the trade between Ghana and Italy,” she emphasized.
This year the organizers havr succeeded in bringing exhibitors from over 12 countries and hope to establish business relationships among the various companies during the exhibition.
Mr. März announced that two industry awards will be presented during the exhibition and this will be led by the Chamber of Agribusiness Ghana.
He also mentioned that there’s a subsidized package for agricultural machinery.
The major participants in this year’s show are Ghana Export Promotion Authority (GEPA), GIZ AgriBiz and more.
In total some 70 exhibitors from 12 countries are presenting products, technologies and solutions specifically tailored for the Ghanian and West African market.
The exhibitors are from Ghana, Austria, China, France, Germany, Italy, the Netherlands, South Africa, Nigeria, Poland, Thailand and Ukraine .