Ghana unveils US$50 million Redgold Oil Palm Plantation Project: Onesta Ghana Limited

GHANA – Onesta Ghana Limited, an agro-industrial enterprise, has unveiled the “Redgold Oil Palm Plantation Project (ROPP)”, a Public-Private Partnership (PPP) aimed at developing a sustainable, fully integrated oil palm value chain in Ghana to transform the country into a major player in the global palm oil market.

Ghana is the third largest palm oil producer in West Africa, behind Nigeria and Ivory Coast.

Ghana’s government is accelerating the implementation of its new policy to industrialize the sector with the aim of self-sufficiency in the commodity.

The Redgold Oil Palm Plantation Project (ROPP) was officially launched on Wednesday, July 9, aimed at boosting palm oil production.

According to local media reports, this initiative is expected to raise US$50 million in its first phase of development.

Specifically, it will involve developing and exploiting 10,000 hectares of palm groves, which will help enhance local palm oil production, reduce Ghana’s reliance on imports, and create jobs, particularly in rural communities. 

“This project will provide integrated solutions from cultivation to processing and refining, ensuring quality products while promoting economic growth and environmental sustainability,” said Maxwell Commey, Executive Director of Onesta Ghana Ltd.

“Investment in the palm oil sector has the potential to create jobs, boost local economies, and reduce rural poverty. We, at the Ministry of Agriculture, will provide Onesta Ghana with an enabling environment and the necessary support to achieve this ambitious vision,” added John Setor Dumelo, Deputy Minister of Agriculture.

Reports indicate that Ghana is currently facing a production deficit of 150,000 metric tonnes annually while neighbouring countries such as Côte d’Ivoire have begun exporting palm oil.

This project aligns strategically with Ghana’s initiative of industrializing the oil palm sector, announced in April 2024, as it positioned itself to enhance its influence in the global palm oil market by seeking full membership in the Council of Palm Oil Producing Countries (CPOPC).

The Redgold initiative seeks to expand industrial plantations by 50,000 hectares nationwide, leveraging private-sector investment to increase domestic palm oil production and reduce reliance on imports.

FAO data shows that between 2019 and 2023, Ghana imported an average of approximately 257,400 tonnes of crude palm oil annually, with key suppliers including Malaysia, Indonesia, Côte d’Ivoire, and Colombia.

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