Ghana Export-Import Bank has invested GHs10 million ($1.8 million) in the shea nut value-chain.
Part of this fund will be used to train 400 women in the collection segment while another part will be used to provide equipment and security materials to 1,200 collectors.
With this investment, Ghana expects to increase its shea exports currently estimated at 70,000 tons per year.
“In view of the size of the market, and the potential that it has globally, we went to seek approval of 10million Ghana cedis to be able to invest in the share industry,” said Lawrence Agyinsam (photo), CEO of Ghana Export-Import Bank.
The bank plans to increase revenues generated by non-traditional exports from an average of $2.4 billion to $5 billion in 2017-2022. It also wants to reduce the country’s imports bill by developing new exports products like avocado and cashew nuts.