In a groundbreaking development, EGTA Investment Limited, a Nigerian firm, signed a Memorandum of Understanding (MoU) with the Jospong Group of Companies, a Ghanaian conglomerate.
The event, which took place at the Ghana High Commission in Abuja on Saturday, marked a significant commitment to bolstering agricultural production.
The MoU, signed by the two entities, is poised to revolutionise the agricultural landscape by focusing on enhancing the cultivation of rice, wheat, soya beans, yellow corn, sunflowers, and various other vital crops.
The signing ceremony was conducted under the supervision of Alhaji Bello Goronyo, the Minister of State for Water Resources and Sanitation, and Mr. Eddison Agbenyegah, the Deputy High Commissioner of Ghana to Nigeria. Among the distinguished attendees was Mr. Aminu Goronyo, the President of the Rice Farmers Association of Nigeria (RIFAN).
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Importance of the Nigeria-Ghana food production farming
Mr. Bashir Ibrahim, the Group Managing Director of EGTA, emphasised the paramount importance of this agreement in promoting investments in the agricultural sector. He underlined the dire need for substantial investments to propel agricultural growth in Africa, emphasising the critical role of cooperation, financial support, and diplomatic relationships among African nations.
Ibrahim stated, “It is on this foundation that the EGTA delegation embarked on negotiations for this historic MoU, leading to delegations from EGTA visiting Ghana and Jospong coming to Nigeria to negotiate and finalise this agreement. This process builds upon the long-standing amicable relations that have existed since the independence of both Ghana and Nigeria.”
He continued, “In fact, if there are two countries that share such a profound connection that events in one often mirror those in the other, it is Nigeria and Ghana. The signing of this MoU aligns seamlessly with this tradition. The future of Africa hinges on the concept of cooperation encompassing financial investment, technical prowess, social integration, economic growth, and political collaboration among African nations.”
Ibrahim further elaborated that this partnership between EGTA and Jospong serves as an extension of the historic relationship between Ghana and Nigeria, encompassing the production of a wide array of agricultural commodities. Additionally, it will provide technical expertise, financial resources, investment opportunities, and training initiatives to bolster Ghana’s agricultural ecosystem.
Ibrahim acknowledged that this agreement, one among many with foreign partners, was made possible by the business-friendly commitment of President Bola Tinubu’s administration to position the private sector as a key driver of economic diversification.
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Impact of Nigeria-Ghana partnership on Ghana’s agric agenda
Mr. George Blavo, the Lead Coordinator of the Rice Project at Jospong Group of Companies, Ghana, affirmed that this agreement harmonises perfectly with Ghana’s agricultural agenda. He emphasised that the primary objective of this partnership is to elevate the people of Ghana from poverty through agricultural development. Blavo stressed that it would enhance the entire agricultural food chain, ensuring food security, reducing food imports, with the private sector playing a pivotal role.
“We are optimistic that this MoU will further strengthen the Nigeria-Ghana bilateral relationship, emphasising the necessity of prioritising the partnership between Ghana and Nigeria,” Blavo expressed, highlighting Ghana’s commitment to deepening economic, trade, investment, technology, security, and agricultural ties with Nigeria.
Mr. Agbenyegah added that Ghana seeks to learn from Nigeria’s best practices, as Nigeria has achieved the status of a “Rice Super Power,” emerging as one of the leading rice producers in Africa. He underscored the pivotal role of EGTA in this remarkable achievement, noting that Ghana would leverage the policies and business initiatives rolled out by the Federal Government of Nigeria to ensure smooth and fruitful cooperation.
“We are delighted to be part of this private sector initiative aimed at enhancing rice production in Ghana. Ghana’s role as the host of the African Continental Free Trade Area (AfCTA) Secretariat further underscores our commitment to deepening cooperation for regional growth,” Agbenyegah stated.
Jospong Group of Companies, a Ghanaian conglomerate, boasts a presence in over 14 sectors with 60 subsidiaries operating across Africa and Asia.
Meanwhile, Mr Aminu Goronyo, President of RIFAN, celebrated Nigeria’s remarkable progress in rice production over the past decade, particularly after imposing a ban on rice imports. He proudly declared that Nigeria had surpassed Egypt, achieving an annual rice production of 5.8 metric tonnes, solidifying its status as a major player in the global rice industry.