Jospong secures €30million for rice production
Jospong secures €30million for rice production

Jospong secures €30 million for rice production

The Austria Government has provided a €30 million facility to Jospong Group of Companies for the expansion of its rice production enterprise in the country.


President Nana Addo Dankwa Akufo-Addo, who commended the Austria Government for the gesture as he announced it in Accra Wednesday, noted that the Jospong Group had already established 16 integrated recycling and compost plants all through the support of the Austria Government. 

President Akufo-Addo was speaking at a lunch in honour of the Austrian Chancellor, Karl Nehammer, who is on a three-day official visit to Ghana.

He is the first Austrian Chancellor to visit Ghana.  

The Jospong Group has ventured into large-scale mechanised rice production following government’s effort to increase rice production in the country.

The company has since signed memoranda of understanding with key sector rice players in Thailand for the establishment of a seed development and research centre, rice mechanisation centres, bio-organic fertiliser production centres, supply of farm implements and rice mills in Ghana.

Bilateral relations

During the bilateral discussion between the visiting Austrian delegation and their Ghanaian counterpart, the two countries signed two agreements, one for general cooperation and the other for defence cooperation.

Basis for cooperation

President Akufo-Addo noted that the provision of support for Ghanaian local businesses such as Jospong Group and others provided durable basis for cooperation and collaboration between the two countries, and that Ghanaians cherished the relationship and friendship with Austria.

He said in the 21st century, the close collaboration of stable, fully functioning democracy such as Ghana and Austria would offer a great boost to the growth of stable constitutional governments around the world which could only benefit and serve the welfare of the African and European peoples.

President Akufo-Addo said he shared the vision of the possibilities of deeper trade and investment relations and cooperation between Ghana and Austria. 

“It is the most effective way towards building a sustainable future of progress and prosperity for our respective countries and populations, and maintaining a healthy relationship between our two nations,” he added. 

He said like the rest of the world, Ghana had not been spared the effects of the Russia-Ukraine war, and that, naturally, it was expected that it could be brought to an end as soon as possible so that the country and the global economy in general could hasten its economic recovery and also secure peace in Europe.


Chancellor Nehammer said the bilateral relations with Ghana included deepening military cooperation, and added that “today, we confirm our commitment to seal this military cooperation agreement between our two governments”.

He lauded the leading role of the Ghana Armed Forces as an anchor of regional security in a challenging geo-political environment, and added that Austria was proud to assist Ghana in such very demanding endeavour.

He said the second priority was to foster trade relations, and that this would be manifested in the Austrian companies that wanted to extend their business activities in Ghana.

Chancellor Nehammer announced that Austria was opening new embassies around the world, and that Accra was very high on his priority list because the embassy would inject more dynamism into all areas of bilateral relations with Ghana.

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