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Soya Value Chain Association of Ghana holds consultative dialogue in Accra
The Soya Value Chain Association of Ghana on Wednesday held a consultative dialogue in Accra aimed at developing an effective action plan to address the challenges of the soya sector.
Held under the theme: “A National Soya Strategy Plan for Ghana’s Economy: Influencing Policy for a Soya –Business Agenda ” it was organised by the Association in collaboration with GIZ under the Sustainable Employment Agribusiness Programme (AgriBiz)
The event emphasised the significance of fostering collaboration with government agencies, development partners, farmers and similar stakeholders to enhance profitability and make a positive contribution to the overall economic growth of Ghana and guarantee food security.
In an interview the Ghanaian Times, Mr. Thomas W. Bello, Chairman, Soya Value Chain Association of Ghana, highlighted the importance of a comprehensive national strategy plan to establish a clear roadmap for the long-term growth of the country’s soy industry.
He said the association had hosted a consultative meeting last year which revolved around the theme “Laying the foundations for sustainability after 2024” to streamline the soya sub-sector.
Mr. Bello said the objective was to gather input and insights regarding the proposed ban on the exportation of soya from Ghana.
He said a position paper was formulated during a soybean roundtable in 2022 that urged the government to establish a national strategy plan and reassess the composition of the export control committee, among other recommendations.
It subsequently petitioned parliament, urging a review of the legislation that governs the selection process for members of the export control committee.
He said the move aimed at contributing to the economic growth of Ghana.
“If the country looks at soya as a cash crop, it could generate income up to the level of cocoa or even more,” he said.
“And so, this is a very great potential revenue earner for the country.”
Mr. Afrifa noted that the lack of proper coordination among industry actors such as development partners, government agencies, and the private sector within the soy value chain was leading to a limited impact on the overall sector.
“We’re here to look at a national strategy plan for soya; this is because everybody is trying to do something here, something there, and we are not getting the impact.”
If Ghana considered soya a lucrative agricultural product, he said, it had the potential to generate income comparable to, or even surpassing, that of cocoa.
He urged policymakers to capitalise on this significant opportunity to generate substantial revenue and reap the numerous benefits of the growing global demand for soy.
He also urged both the government and farmers to recognise the immense potential of cultivating soybeans to diversify Ghana’s economy and increase export earnings.
However, Mr. Dominic Ayine, Member of Parliament for Bolgatanga Central and chairman of the subsidiary legislation committee of parliament, advised that the process should begin from the Ministry of Trade and Industry, which is holding jurisdiction over it.
The consultative meeting called for establishment of a formal collaboration with stakeholder organisations like the Alliance for the Green Revolution in Africa, the Ministry of Food and Agriculture, and the Ministry of Trade and Industry.
BY BENEDICTA GYIMAAH FOLLEY
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
