This article examines the extent, framing and structure of Chinese and Brazilian investments in Ghana. It outlines the changing political economy of the agrarian sector, in the context of market liberalisation and the rise of agri‐business. The article examines the specificities of Chinese agricultural investments in Ghana in relation to wider investments and Chinese interests in the country. It also examines Brazilian investments within the Ghanaian agricultural sector in relation to the expansion of Brazilian agri‐business and its integration into the global economy. Finally, it discusses the impact of these developments on Ghanaian agriculture and society.