Ghana’s huge food market is potential for investment-Fairtrade MD

Story by: Ishmael Barfi

With almost 40 million population, Ghana huge food has been described as a potential market for Investment.

According to the Managing Director of Fairtrade, Mr. Paul März, the country’s expenditure in the food and beverage sector is growing steadily, hence the largest segment of the Ghanaian processing industry.

Mr. Paul März made these observation during an interview at the 6^th International Trade Show for West Africa agro-food and West Africa plast printpack conference and exhibition held in Accra on Tuesday, November 21, 2023.

Meanwhile, statistics from the World Trade Organization (WTO) reveals that, Ghana imported food worth USD 1.2 billion and exported food worth USD 1.7 billion in 2021.

An Exhibitor showcasing hos products

Based on the above statistics, the Fairtrade Managing Director reiterated that, “food trade with Ghana is a USD 8.5 billion business.”

The 6^th International Trade Show for West Africa agro-food and West Africa plast printpack conference and exhibition is a collaboration between the AHK Delegation of German Industry and Commerce in Ghana and Fairtrade Messe.

The Conference & Exhibition aims to provide opportunities and a platform for the agro-food, print and packaging industry in Ghana to enhance growth and ssupply chain.

Official Opening of the 6th International Trade Show for West Africa agro-food and West Africa plast printpack conference

Interestingly, Ghana’s investment in food and packaging technology shows an annual growth of 8.6% between 2017 and 2022, from 59 million Euros in 2017 to 89 million Euros in 2022 which contributes to the country’s GDP.

Exhibition stands at the fair trade & Exhibition

Taking her turn to interact with the media, the Italian Ambassador to Ghana and Togo, H.E. Daniela d’Oriandi, acknowledged that trade in technical goods between Ghana and Italy grew by 30% reaching 90 million Euros in 2022.

This growth she said shows that the majority of Ghanaian companies desire Italian solutions.

Italian Ambassador to Ghana and Togo, H.E. Daniela d’Oriandi,

The Embassy H. E Daniela d’Oriandi reiterated supervises the investment in innovation, and training, provides technical assistance, and stressed that, “our products are reliable, and there are many initiatives to promote the trade between Ghana and Italy.”

The Exhibition

Seventy (70) exhibitors from over twelve (12) countries are currently at the ongoing Fair and Exhibition to establish good business relationships among the various companies during the exhibition.

These exhibitors are presenting products, technologies, and solutions specifically tailored for the Ghanaian and West African markets.

To boost and encourage viable and good relationships among businesses, Mr. März announced that two industry awards will be presented during the exhibition and this will be led by the Chamber of Agribusiness Ghana.