GHANA—The Italian agricultural giant Bonifiche Ferraresi (BF) has officially launched a EUR 90 million (US$ 98.5 million) agricultural project in Ghana, using a Public-Private Partnership (P) model in foreign direct investment (FDI).
Located in Aveyime-Battor in the North Tongu district of the Volta region, the project initially covers 5,000 hectares designated for the cultivation of various crops such as rice, maize, soy, wheat, tomatoes, and bananas.
Key dignitaries attended the inauguration ceremony, including BF Ghana Chairperson Georges Mikhael, Italian Ambassador Daniela Orlandi, Ghanaian Deputy Minister of Food & Agriculture Frimpong Addo, and the traditional chief of the Battor area.
The project’s long-term vision is to expand the cultivated area to 25,000 hectares. This expansion is aimed at catering to domestic consumption in Ghana, with surplus produce being processed for export, thereby contributing to the country’s economic growth.
“We believe that Ghana can greatly benefit from the expertise, know-how, technology, and equipment of Italy to develop and transform its natural resources in order to foster Local Value Addition (#LVA) and enhance its #FoodSecurity,” stated Italian Ambassador Daniela Orlandi during the ceremony.
This project aligns with Italy’s broader strategy to strengthen agricultural ties with Africa, as part of the MatteiPlan outlined during the Italy-Africa Leaders Summit in January 2024 (IALS2024) and further promoted at the G7 Summit in June 2024.
The Mattei Plan emphasizes sustainable development, food security, and economic cooperation between Italy and African nations.
BF’s initiative in Ghana follows a similar agreement in Algeria, where the company is investing EUR 420 million (USD 455 million) to develop 36,000 hectares, primarily for wheat cultivation. Best Foods, a subsidiary of BF SpA, will value-added this produce into pasta.
Ghanaian Deputy Minister of Food & Agriculture Frimpong Addo expressed optimism about the project’s potential impact on local agriculture.
“This partnership is a significant step towards achieving sustainable agricultural development in Ghana. The advanced technology and expertise brought by BF will not only boost our agricultural productivity but also create jobs and enhance the livelihoods of our farmers.”
The project promises to transform the agricultural landscape in the Volta region, leveraging advanced Italian technology and practices to improve yield, efficiency, and sustainability. It is expected to serve as a model for future agricultural developments in Ghana and other African countries.
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