Food waste presents a significant challenge to sustainable development, with fast‐food enterprises playing a major role in this issue. This study explores the complexities of food waste management among fast‐food vendors in Ghana's Ashanti region, providing insights into the quantity, determinants, mitigation strategies, and economic impacts of food waste. Using a mixed‐method approach that includes food waste audits and surveys, we estimated the annual food waste at approximately 464 MT. Key factors influencing waste generation include education, experience, and waste management training. Demand forecasting and inventory management emerged as crucial strategies for mitigating waste, underscoring the importance of proactive planning in reducing food waste. Despite these efforts, waste disposal remains a prevalent issue, highlighting the need for more comprehensive recycling or anaerobic digestion solutions to address environmental and societal costs. Our findings indicate that enterprises with minimal food waste achieve higher profitability and larger employee sizes, demonstrating the economic advantages of effective waste reduction. Based on this evidence, we recommend five practical policies to tackle food waste challenges: implementing education and training programs, providing financial incentives, launching public awareness campaigns, enforcing regulatory measures, and fostering partnerships. By adopting these policies, policymakers and stakeholders can support fast‐food vendors in adopting sustainable practices, advancing broader sustainability goals, and building a more resilient and equitable food system.