GHANA – The MasterCard Foundation and the Millennium Development Authority (MiDA) have sealed a US$6.1 million deal to transform the rice value chain in Ghana.
The formal contract signing ceremony, held in Accra on Tuesday, 5th December 2023, marked the commencement of a five-year project that will extend its impact until 31st May 2028.
The fund disbursement period is set to span four years, from 1st December 2023 to 31st November 2027.
Speaking during the sealing of the deal, Ken Ofori-Atta, the Minister of Finance highlighted the strategic importance of this collaboration, stating, “This partnership signifies a major milestone in our efforts to boost agricultural productivity.”
Over the next four years, the collaborative effort anticipates remarkable outcomes, including the creation of 38,269 jobs, with 70% designated for women.
Additionally, a projected 20% increase in national rice output, cultivation of 2,560 hectares of rice, and a substantial reduction in rice import costs, expected to surpass US$45 million, underscoring the program’s commitment to catalyzing sustainable growth.
The primary beneficiary of this ambitious initiative is the Kasunya Economic Enclave Project, a vital component of the Ghana CARES “Obaatan Pa” Programme, under the Ministry of Finance.
According to Hon. Ken Ofori-Atta, the grant will play a pivotal role in the operationalization of 6,000 acres out of 10,000 in the Kasunya region, fostering innovation, training, skill development, and implementation support.
Collaborating with key partners such as the Ministry of Food and Agriculture (MoFA), Ghana Irrigation Development Authority (GIDA), National Entrepreneurship and Innovation Program (NEIP), 48 Engineers Regiment of the Ghana Armed Forces, and Private Sector Anchor Farmers, the program is poised to benefit from diverse technical expertise and support.
Hon. Ken Ofori-Atta highlighted the strategic focus on innovation, training, skill development, and strategic support in the rice value chain.
“We are committed to leveraging this funding to provide working capital for primary production actors, paving the way for increased job creation and a 20% boost in national rice output,” he added.
The significant collaboration aims to revolutionize Ghana’s rice sector by implementing the Harnessing Agricultural Productivity and Prosperity for Youth (HAPPY) program
The ceremony was attended by other dignitaries including Professor Yaa Ntiamoa-Baidu, Board Chairperson of MiDA symbolizing a convergence of influential figures dedicated to driving positive change in Ghana’s agricultural sector.
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