Three Cotton Industry Powerhouses Invest Millions in Ghana

Ghana might have dubbed its cotton revitalization program the “White Gold Initiative,” but it’s green — the color of money — that will be helping to get the momentum started. That’s because three cotton industry powerhouses — OLAM Ghana, London-based Armajaro, and Accra, Ghana-based Weinco — have invested nearly $10 million each into cotton production and marketing.

Launched at the end of February, Ghana’s “White Gold” initiative is a comprehensive campaign designed to promote cotton production of cotton and increase the crop’s contribution to national income. Given the record-high cotton prices, the timing couldn’t be better for Ghana.

Under the arrangement, Olam, Armajaro and Weinco will finance farmer inputs and provide education and training in various areas, including seeds, fertilizers and other chemicals. Experts will be in the fields to lend their expertise on-site, and perhaps most important of all, the three commodity marketing firms will pay farmers for their cotton as soon as it is picked.