Ghana’s food processing industry is set for significant expansion, backed by strategic partnerships with multinational food giants. Partners in Food Solutions (PFS), a global nonprofit consortium including General Mills, Cargill, The Hershey Company, Bühler Group, and others, has reaffirmed its commitment to strengthening Ghana’s agribusiness sector.
The team held a press conference after the visit.
Executives from top multinational food companies, engaged with local food businesses, witnessing firsthand the progress made through technical expertise and capacity-building initiatives. The visit marked the first time PFS’s Board convened in Africa since the organization’s inception in 2011.
A Mission Rooted in Global Food Security
The origins of PFS trace back to the World Economic Forum in Davos, where former United Nations Secretary-General Kofi Annan challenged global food leaders to take action on food security in Africa. This challenge led to the creation of PFS, starting with General Mills and expanding to include multiple multinational partners.
“We are motivated by our commitment to improving food stability,” said Mandla Nkomo, CEO of Partners in Food Solutions. “Ghana has incredible potential to drive food security solutions, not just for its people but across West Africa. With the right expertise, investment, and partnerships, local food businesses can fuel the growth of the agribusiness sector, creating jobs and strengthening supply chains.”
Scaling Ghanaian Agribusinesses
Addressing the Press conference, Kwasi Nyamekye, CEO of Verser Oils, highlighted the impact of PFS support in helping his company achieve international certifications, enhance quality management, and improve its business strategy.
“Through mentorship and technical support, we’ve strengthened our operations and are now working towards scaling our business for international markets,” Nyamekye said. However, he noted that Ghanaian food businesses face significant challenges in securing capital and acquiring necessary raw materials at competitive prices.
Bridging Financial Gaps
Kofi Bruce, CFO of General Mills and PFS Board Member, emphasized the need for financial institutions to support growing food processors. “Companies like Verser Oils require large upfront capital to purchase raw materials before production can even begin. Our role is to work with industry bodies and financial institutions to help create sustainable funding solutions for these businesses.”
Despite Ghana’s agribusiness sector contributing 24.5% to the country’s GDP and projected to grow by 2.7% annually through 2028, access to financing remains a barrier to scaling operations. High import duties on essential raw materials further challenge local food processors in competing on a global scale.
A Vision for the Future
PFS’s approach—linking global expertise with local businesses—has already provided over 10,000 hours of pro-bono consulting to 84 Ghanaian companies. With over 350 volunteers actively engaged, PFS is helping businesses enhance food safety, streamline production, and develop growth strategies.
“Our goal is to enable Ghanaian businesses to expand, ensuring that locally produced food remains within the region rather than being exported as raw materials,” Nkomo explained. “By strengthening food processors, we are also creating a more stable market for smallholder farmers, ultimately reinforcing the entire food value chain.”
As PFS continues to deepen its involvement in Ghana, the organization remains optimistic about the future. With increased collaboration between local businesses, multinational corporations, and financial institutions, Ghana’s food processing sector is poised to become a powerhouse in Africa’s agribusiness landscape.
