Bussiness
Ghana spends $1b on importation of rice in three years – Minister
Ghana spent an estimated total of GH¢6.874 billion on the importation of rice from 2017 to 2020.
In addition, the country also imported the following food products from 2017 to 2020: They include Fish – GH¢3.993 billion, Chicken (processed) GH¢1.881 billion, Meat – GH¢487 million, Vegetables GH¢281 and Poultry GH¢184 million.
Mr Alan Kyerematen, Minister for Trade and Industry made the disclosure when he appeared before Parliament to respond to a question by Mr Murtala Muhammed Ibrahim, Member of Parliament (MP) for Tamale Central how much the state spent on the importation of rice and other foodstuffs into the country in the past four years.
Mr Kyerematen also acknowledge from the figures provided that the country was spending close to $1 billion on the importation of food items.
Responding to a question whether the government has lifted a ban on small rice importers, Mr Kyerematen stated that rice was a staple food in the country and one had to maintain a delicate balance between the quantity of rice produced locally at any point in time and what was important was to ensure that there were no serious shortages.
He said the Ministry of Trade and Industry, and the Ministry of Food and Agriculture continue to monitor the production of rice, and at the appropriate time when the volumes of local rice increase significantly the government would be able to restrict the importation of rice.
Mr Kyerematen also maintained that the government has not lifted any ban imposed on the small rice importers but the Ministry has a management policy to ensure that there were no shortages in the system.
He noted that as and when there is significant local rice production in the country the Ministry would be able to determine at that point what decision to take in respect of the ban.
Source: -GNA
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
The Minister for Finance Hon. Cassiel Ato Forson has disclosed that a sum of nine hundred and Eighty-Seven Million, Nine Hundred and Sixty-Five thousand and Seventy-Three Ghana Cedis (GHS987,965,073.00) from the Consolidated Fund into the District Assembly Common Fund Account, being the first quarter amount due to the DACF.
Furthermore, the Finance Minister informed the House that a total amount of Two Billion, Thirty- Three Million, Four Hundred and Sixty-Nine Thousand, Six Hundred and Seven Ghana Cedis (GHS2,033,469,607) has been disbursed to the National Health Insurance Fund.
While the Ghana Education Trust Fund has also received a total of Two Billion, Seven and Ten Million, Two Hundred and Twenty-Seven Ghana Cedis (GHS2,710,227,947.00) for the months January, February, March and April,2025.
The Finance Minister disclosed this in his statement to Parliament on the payments to statutory funds on the floor of the House.
In addition, he cautioned that the Administrator of the District Assembly Common Fund is required to ensure that 80% of this amount is transferred directly to the Assemblies without fail and expenditure returns submitted to the Ministry of Finance before subsequent releases will be made.
He added that Members are encouraged to monitor the utilization of these amounts sent to their respective Assemblies in line with the approved guidelines by Cabinet.
In his closing remark, Ato Forson said he’s going to take the concerns of the House seriously.
For his part, the Majority Leader, Mahama Ayariga made known the President’s prioritization of women in the country stating that President Mahama is “Pro-women”.
This is due to the fact that women are going to be the core beneficiaries from the expenditures going to be made by the MMDA’s, he added.
The Minority Leader Alexander Afenyo-Markin questioned the Finance Minister why road contractors have not been paid for more than five months. He said the Minister must not be applauded for since the allocation of these funds were long overdue.
