Sericulture involves the rearing of silk-producing insects in captivity or collecting their silk cocoons in the field for production offabrics. The majority of the world’s silk is mulberry obtained from the domesticated silkworm, Bombyx mori L. (Lepidoptera:Bombycidae). Sericulture was formally introduced into Ghana in 1992 leading to the establishment of the Silk FarmersAssociation, and later a silk factory in 2002 with support from the FAO. This boost led to an increase in raw cocoon production,but is now dwindling due to numerous challenges facing the silk industry. A survey was carried out in the Eastern, BrongAhafo and Northern Regions of Ghana to establish the current status of sericulture. The survey revealed that farmers aremostly engaged in mulberry sericulture with wild silk being minimal, restricted to the rearing of the Eri silkworm, Philosamiaricini (Donovan) (Lepidoptera: Saturniidae) on castor oil and cassava leaves. Another important wild silkmoth, Gonometa sp.(Lepidoptera: Lasiocampidae) was found on Acacia sp. in northern Ghana. Brong-Ahafo region had the highest number ofsilk farmers. Farmers’ participation in sericulture has decreased over the years as a result of many setbacks. The prospectsand challenges confronting the sericulture industry in Ghana are discussed.