Mahama Woos Thai Investors for 12,000-Hectare Oil Palm Plantation and Processing Mill

President John Dramani Mahama has urged Thailand’s newly accredited ambassador to Ghana to sustain engagements between the Tree Crops Development Authority (TCDA) and prospective Thai investors over a proposed 12,000-hectare oil palm plantation and modern processing mill, framing the project as part of a broader push to deepen bilateral trade and reduce Ghana’s dependence on imported palm oil.

Mahama made the appeal on Tuesday when he received the Letters of Credence of Thirapath Mongkolnavin, Thailand’s new envoy to Ghana, at the Presidency. The ceremony formed part of a presentation of credentials by eleven newly accredited diplomatic envoys .

“I encourage you to continue the engagement between the Tree Crops Development Authority and prospective Thai investors in advancing the proposed establishment of a 12,000-hectare oil palm plantation and a modern processing mill in Ghana,” the President said .

Beyond Oil Palm: A Wider Investment Agenda

Mahama used the occasion to signal Ghana’s openness to Thai capital across multiple sectors, naming manufacturing, agriculture, agro-processing technology and infrastructure as priority areas. He acknowledged the existing footprint of Thai companies in Ghana—specifically Thai Union Group and Indorama Ventures Packaging—describing their investments as valuable to the economy .

The President also expressed support for ongoing discussions toward a bilateral investment treaty and the establishment of a Ghana-Thailand Business Council, arrangements he said would facilitate trade, protect investments and strengthen partnerships between businesses in both countries .

The Oil Palm Deficit Behind the Push

The proposed 12,000-hectare project would feed into a sector where Ghana remains structurally short of domestic supply. Ghana produces roughly 70 per cent of its palm oil needs but imports about 30 per cent to cover consumption, spending nearly US$200 million annually on imports . The National Integrated Palm Oil Development Policy for 2026–2032, developed with the World Bank and Development Bank Ghana, targets 100,000 hectares of new plantations to close that gap .

A US$500 million financing facility announced in the 2026 Budget is intended to support the policy, offering long-term loans with a five-year repayment moratorium and financing up to 70 per cent of industrial project costs—a structure designed to accommodate oil palm’s seven-year maturation period . Smallholder farmers are meant to remain at the centre of the expansion, with improved seedlings, subsidised fertiliser, guaranteed off-take contracts and training .

The TCDA, which anchors the policy, has also moved to formalise the sector, requiring all palm oil importers to register and obtain permits since July 2025 .

The Thai Angle

Thailand brings relevant expertise to the table. The country is a significant player in global palm oil processing and refining, and Thai Union Group—already operating in Ghana—is one of the world’s largest seafood producers, with deep experience in agro-industrial supply chains . Indorama Ventures Packaging, another existing Thai investor in Ghana, is a global petrochemicals and packaging manufacturer.

For Ghana, the appeal to Thailand complements similar outreach to Chinese investors earlier in 2026, when Agriculture Minister Eric Opoku told a Lunar New Year gathering in Accra that Ghana was “not seeking aid” but “building joint ventures” . The strategy appears to be one of courting multiple sources of foreign capital and technical expertise rather than relying on a single partner.

Whether the 12,000-hectare proposal advances beyond discussions will depend on the terms Thai investors negotiate with the TCDA, and on the government’s ability to deliver the land access, financing and off-take arrangements the policy framework promises.

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Reporter’s note: The 12,000-hectare project remains under discussion between the TCDA and prospective Thai investors; no investment agreement has been signed. The US$500 million financing facility and 100,000-hectare target are national policy figures, not commitments specific to the Thai proposal. President Mahama’s remarks were made during a credentials ceremony also involving envoys from Sweden, Switzerland, the Netherlands, Finland and Slovakia, among others .