Invest Ghana

completed

OVERVIEW The project aims to create new markets for private investment in the agribusiness sector of Ghana. The project builds directly on the findings of the recent Country Private Sector Diagnostic (CPSD), conducted by the World Bank Group, which identifies agribusiness as one of the most promising economic sectors in Ghana. Based on an assessment of the market barriers, pre-implementation findings, and comparative advantages of IFC, the project will focus on the following three components: (i) investment promotion to identify and proactively support the entry of responsible agribusiness investors, (ii) addressing key regulatory reforms, and (iii) promotion of agri-service market opportunities. Component 1: Investment Promotion - Supporting entry of new, responsible agribusiness investors The project will begin by supporting the Government of Ghana to ensure that the pre-conditions are in place for new investors. Activities 1.1 Pre-screen potential projects with knowledgeable internal specialists and agribusiness professionals, to ensure the necessary physical, regulatory and financial conditions are in place to attract investors 1.2 Support the Government in the development and targeted dissemination of investor-oriented business models and information packs that will provide the core country, value chain and/or project specific information needed to generate investor interest 1.3 Develop a portfolio of investment opportunities for agricultural products / value chains, selected on the basis of an extensive assessment of market opportunities (national, regional and global levels) and value chain competitive potential 1.4 Support the development of a pipeline of potential investors known by IFC to have interests in high value agricultural production / services, in collaboration with the Ministry of Food and Agriculture (MOFA) and the Ghana Investment Promotion Center (GIPC) 1.5 Provide technical support to MoFA and GIPC for the company-specific follow up support that will be required by investors that are interested in pursuing the opportunities 1.6 Convene investor roundtables (jointly with Government and WB) to market the opportunities to investors that have expressed interest based on initial outreach and roadshows by the government Component 2: Sector regulatory reform Key challenges in the regulatory system related to private investment in agribusiness include, for example, importation and distribution of basic inputs, as well as Sanitary and Phyto-Sanitary (SPS) issues related to previous restrictions on certain exports from Ghana. The project will support public-private dialogue on these and other regulatory issues, in order to drive reforms. Activities: 2.1 Strengthen existing public-private dialogue mechanisms in collaboration with the World Bank in order to identify and promote opportunities for reforms that will help crowd in private financing. 2.2 Undertake a detailed assessment of the SPS system to identify the state of the system, gaps and specific advisory needs (further detailed activities to follow this assessment). Component 3 – Promotion of agri-service market opportunities Linked to the first two components, it was highlighted in the CPSD that Ghana has a range of untapped opportunities to attract private sector participation in agricultural services, including the provision of storage, transportation, cold chain and quality-control solutions. Activities 3.1 Assess local service market needs: conduct a mapping of market players in the agri-services sector 3.2 Explore opportunities to mobilize entry of new service providers, including via targeted investor events