The Minister for Food and Agriculture, Mr Eric Opoku, has announced bold plans to revive PBC Shea Limited Company, pledging the government’s full commitment to restoring Ghana’s stake in the rapidly growing global shea industry.

He made the declaration during the inauguration of the newly constituted board of PBC Shea Limited in Accra.

Addressing the newly sworn-in board members, Mr. Opoku described the day as a “moment of purpose and renewal” and charged the board to lead the turnaround of a company that has been non-operational for the past eight years.

“Ghana holds a premium position in the global shea market, recognised for the finest quality shea products,” Mr. Opoku said.

“But despite the soaring global demand, our local industry has collapsed at a time when we should be scaling up.”

The minister cited global market figures indicating the shea industry is currently valued at $2.75 billion, with projections showing it will more than double to $5.58 billion by 2033.

Ghana, he noted, must seize the opportunity to maintain its leadership position by increasing production, improving processing capabilities, and expanding market reach.

The revival plan will be anchored by a €4 million investment from the Ministry of Food and Agriculture, in collaboration with the African Development Bank.

The funds, according to the minister, will be used to build the capacity of local shea producers this year.

Final approval for the release of funds hinges on a pending agreement involving the Global Shea Alliance and Ghana’s Public Procurement Authority.

Mr. Opoku underscored the critical role women play in the shea sector, revealing that over 600,000 women across Ghana depend on shea farming, processing, and trade as their primary source of livelihood.

To secure their welfare and ensure steady raw material supply, the minister called for the establishment of a Buy-Back Agreement between PBC Shea Limited and farmers.

“This agreement will guarantee a ready market for our farmers, secure their incomes, and stabilise the supply chain for the company,” he explained.

In 2022, Ghana earned $92.6 million from shea exports, but the minister expressed confidence this figure could rise to $500 million and beyond with targeted investments and strong leadership.

Mr. Opoku cautioned the board to distinguish between governance and management, urging them to offer strategic leadership without interfering in day-to-day operations.

He stressed the importance of accountability and transformational leadership, noting that the success of the board would be measured by tangible results.

“True leaders don’t just manage; they transform. You are expected to change the narrative and leave behind a story of revival and progress,” he charged the board.

The minister concluded by reaffirming the government’s support and confidence in the new board’s ability to restore PBC Shea Limited as a national economic asset and a pillar of Ghana’s agricultural exports.