Audio By Carbonatix
Ghana is likely to lose out on Africa’s one trillion-dollar agriculture economy if existing trade agreements aimed at improving the business climate of agribusiness is not tackled.
This was made known at the African Agribusiness Leadership Dialogue by the Food and Agriculture Organization (FAO) where stakeholders in the agriculture value chain deliberated on key issues impeding the advancement of agriculture in the country.
Recent trends in Africa provide significant opportunities for private sector-led growth that can stimulate investments and drive rural and agricultural transformation in African countries.
Sadly, existing challenges like poor Agric financing and non-tariff barriers and conflicts impede the growth of the sector.
Speaking at the African Agribusiness Leadership Dialogue, Assistant Director-General for Africa of the Food and Agriculture Organization (FAO), Abebe Haile Gabriel explained the need for deeper investments in the sector.
“Private investment in the Agric value chain is very important – the more reason why we are partaking of the seminar to build a deeper relationship in the sector.
Deputy Trade Minister, Carlos Ahenkorah believes the advent of the Africa Continental Free Trade Agreement Area will propel growth in the Agric sector. With 17 per cent intra-Africa trade in 2017 compared with 68 per cent in Europe and 59 per cent in Asia, Mr Ahenkorah says “agriculture will be the engine of growth for Ghana and other African countries.”
Meanwhile, Partner with the East African chapter of KPMG, George Manu, has lamented the low financing for agriculture by banks. As financial institutions raise concerns over the high risks linked Agriculture, George Manu called on the government to explore a way of sharing risks.
“If the government is facing risks when it comes to bank financing, they must also consider other occupants in the vehicle,” he said.
The Food and Agriculture Organization is a specialized agency of the United Nations that leads international efforts to defeat hunger. To this end, the leadership dialogue will see stakeholders come out with recommendations on sustainable agriculture investments
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Photos: JoyNews, IMANI Africa drive national conversation on Ghana’s plastic waste management
1 minute -
Republic Bank Ghana, JoyNews launch 2026 Habitat Fair
4 minutes -
Republic Bank becomes title sponsor of JoyNews Habitat Fair
11 minutes -
Prof Bokpin warns against political recruitment into civil service
16 minutes -
African unity is key to overcoming slavery’s enduring legacy – Dean Roberts Jnr
18 minutes -
Extended Producer Responsibility law to recognise and integrate informal waste collectors — EPA
21 minutes -
NADMO says UAE $1m donation can support more than 91,000 flood victims
24 minutes -
Private medical practitioners seek tax waivers on cancer treatment equipment
29 minutes -
Ghana spends 0.084% of expenditure on creative industry – JoyNews Research
38 minutes -
Hearts of Oak pull out of GHALCA Top-4 as Samartex take their place
39 minutes -
Mustapha Hamid trial to continue during legal vacation despite defence plea
44 minutes -
NAIMOS launches major operation to clear illegal mining along Birim River
46 minutes -
Trump says it would be ‘terrible mistake’ to remove Infantino
48 minutes -
Ghana has not moved beyond macroeconomic stability since 1992 – Prof Godfred Bokpin
51 minutes -
‘Support Kotoko Board or their wives may advise them to quit’ – Sarfo Duku
51 minutes