Financial institutions have been charged to support the agricultural value chain to grow the agriculture sector.
However, the experts want the financial institutions to be selective and support farmers with an all-inclusive product to minimize risks.
Head of Investment at RDF Ghana, a development finance organization, Angela Klufio speaking at the Ghana Commodity Exchange Webinar Series on the theme Innovative Financial Solutions for Agricultural Actors said the potential for giving loans to the agricultural sector is vast.
“There are various sectors of the economy demanding this but the strongest demand comes from the agricultural sector. The potential for giving large loans to this sector is so vast. Across the country we have agricultural companies across every region. They range from smallholder farmers all the whole to mostly medium scale enterprises to a few large enterprises.”
“I believe any financial institution should be interested in agriculture because of the potential for growing loan books and increasing sustainable lending,” she said.
Background
Financing Agriculture in Ghana over the years and now is a major challenge for farmers especially smallholder farmers.
As a result of lack of access to finances from financial houses, banks and other sources, the smallholder farmers have been trapped with poverty due to lack of improvement in operations.
However, some banks have debunked claims of not supporting farmers. “
But General Manager of Agribusiness at Agricultural Development Bank, Kwame Asiedu Attrams, says ADB is a universal bank with agricultural focus, explaining “as of now, we have close to 600 million invested in agriculture in Ghana”.
Latest Stories
-
Paris Olympic hopes hang in the balance as Ghana’s 4×100 relay team drops baton at World Relays
1 hour -
Western Regional House of Chiefs commends Bawumia for his humility and respect for traditional authorities
2 hours -
#JustTurned18: First-time voters critical to deciding 2024 presidential election
4 hours -
Video: EC lied that the cost per voter in 2020 was $7.7; it was $12.5 – Bright Simons
4 hours -
Former IGP passes on
4 hours -
Ejisu by-election: Kwadaso MP gave money to EC officials out of goodwill – Ahiagbah
4 hours -
Millennium City: Land owner breaks silence on fatal shooting of soldier
4 hours -
Photos of 2024 Aboakyer Festival
5 hours -
#JustTurned18: I now have an opportunity to use my thumb to bring someone into power – Excited prospective voters
5 hours -
OSP acted as a whistleblower transferring Cecilia Dapaah’s case to EOCO – Sammy Darko
5 hours -
IMF calls for tariff adjustment for energy sector cost recovery
6 hours -
Samson’s Take: Journalists, block the pretentious idiots
7 hours -
Real Madrid crowned LaLiga champions after Barcelona’s defeat at Girona
7 hours -
Daniel Otting Awuah elected SRC President of Ghana School of Law
8 hours -
Lawrence Ati-Zigi signs St. Gallen contract extension
8 hours