The Tree Crops Development Authority (TCDA) has signed a Memorandum of Understanding (MoU) with Golden Forest Limited, a subsidiary of Russia’s EFKO Group of Companies, to support the development and value addition of Ghana’s shea industry.
The agreement, signed on May 29, 2026, was led by TCDA Chief Executive Officer Dr. Andy Osei Okrah and is aimed at strengthening collaboration in key areas including shea parkland restoration, processing infrastructure, scientific research, women’s empowerment, and value addition.
According to TCDA, the partnership emerged from engagements initiated during the maiden Ghana Tree Crops Investment Summit and Exhibition 2026, where discussions between the two parties identified opportunities within Ghana’s shea value chain.
Speaking at the signing ceremony, Dr. Okrah described the agreement as a strategic step toward advancing Ghana’s tree crops 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 said.
He noted that the global shea market is currently valued at approximately US$2.75 billion and is projected to exceed US$5.5 billion by 2033, but much of the value generated from African shea continues to be captured outside the continent through foreign processing and manufacturing.
According to him, the partnership offers Ghana an opportunity to move beyond raw shea exports and strengthen local processing, innovation, and industrial development, while improving livelihoods across the value chain.
For his part, Chief Executive Officer of Golden Forest, Timur Bakusev, reaffirmed the company’s commitment to supporting Ghana’s 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 also disclosed plans to support educational opportunities for young Ghanaians to pursue higher studies in tree crops and oilseed processing at agricultural universities in Russia.
The MoU is expected to promote sustainability, attract investment, strengthen research and processing capacity, enhance value addition, and improve the global competitiveness of Ghana’s shea industry. It also marks a further step in expanding agricultural cooperation between Ghana and Russia in the tree crops sector.
