The Chief Executive Officer of the Tree Crops Development Authority (TCDA), Dr. Andy Osei Okrah, led the signing of a strategic Memorandum of Understanding (MoU) between TCDA and Golden Forest Limited, a subsidiary of Russia’s EFKO Group of Companies, aimed at accelerating the development, sustainability and value addition drive within Ghana’s shea industry.
The partnership, which seeks to strengthen collaboration in areas including shea parkland restoration, investment in processing infrastructure, scientific research, women empowerment and value addition, is a direct outcome of engagements initiated at the maiden Ghana Tree Crops Investment Summit and Exhibition 2026. Following interactions at the Summit, a series of engagements between TCDA and Golden Forest explored opportunities within Ghana’s shea value chain, ultimately culminating in the signing of the MoU.
Speaking at the MOU signing , Dr. Andy Osei Okrah described the agreement as a timely and strategic intervention for Ghana’s shea sector.
“This MoU comes at a very strategic time and aligns strongly with our shared vision to build a highly developed, diversified, value-added, globally competitive and sustainable tree crop sector in Ghana,” he stated.
Dr. Okrah underscored the importance of the partnership, noting that while the global shea market is currently valued at about US$2.75 billion and projected to exceed US$5.5 billion by 2033, much of the value generated from African shea continues to be captured outside the continent through international processing and manufacturing.
He said the collaboration presents a significant opportunity for Ghana to reposition itself beyond raw material exports into a competitive hub for shea processing, innovation and industrial development, while improving livelihoods, particularly for women who form the backbone of the industry.
Reaffirming Golden Forest’s commitment to Ghana, CEO Timur Bakusev said the EFKO Group considers Ghana a key partner and remains committed to supporting the growth of the shea sector.
“Today, we sign an agreement that will focus the efforts of Golden Forest and TCDA on restoring the shea tree park, supporting women collectors, and fostering scientific cooperation to enhance shea yield and quality,” he said.
Mr. Bakusev further revealed plans to provide educational opportunities for young Ghanaians to pursue higher studies in tree crops and oilseed processing at leading agricultural universities in Russia.
The MoU is expected to strengthen sustainability, attract investment, improve research and processing capacity, enhance value addition and boost the global competitiveness of Ghana’s shea industry, while also deepening agricultural cooperation between Ghana and Russia in the Tree Crops sector.
