The Chief Executive Officer of Stanbic Bank Ghana Ltd, Kwamina Asomaning, says inflation rate should be of concern to both government and citizens.

This, according to him, is because of the role inflation plays with regards to economic growth.

Speaking at the Graphic Business/Stanbic Bank Breakfast Meeting held at the Labadi Beach Hotel in Accra, Mr Asomaning pointed out that poverty, climate change, and inflation are critical issues affecting Ghana.

He used the platform to highlight Stanbic Bank's mission of driving growth across Africa, and the role agriculture plays in that vision.

“As a bank, we are very much aware that often the conversation around agriculture centers on the lack of finance, and today we are hoping that with the partners we have assembled, we will be able to have a good conversation on what other factors in addition to access to finance can help unlock this proverbial low hanging fruit" that can play a crucial role in mitigating these challenges. 

Mr. Asomaning stressed the importance of patient capital in the agricultural sector. He explained that the type of financing typically provided by commercial banks is often not suited to the needs of farmers, who require patient capital to succeed.

He said, “Most of the banks that are involved in agriculture today, commercial banks, don’t have patient capital, agriculture requires a lot of patience.

“For any of you who has done any backyard farming, which I have done but people don’t believe me when I say it, it requires a lot of patience.”

The renowned banker also stressed on the importance of addressing issues throughout the agricultural value chain, including post-harvest losses.

The second quarter of the Graphic Business/Stanbic Bank Breakfast meeting was held under the theme; “Enhancing Agriculture Sufficiency to Tackle Food Inflation".

The event was attended by industry experts, policymakers, and stakeholders.