[ 2015-12-01 ]

Adb invests GH¢500m into agric in 5yrs
The Agricultural Development Bank (adb) invested
about GH¢381 million into the agriculture sector
last year.

The amount represents 400% over the 2010 figure of
GH¢72 million investment.

The massive jump was recorded despite high default
rates due to weather-related challenges, as most
crop production is undertaken under rain-fed
conditions.

The breakdown for the 2014 investment are Fishing
and Aquaculture - GH¢125,366,156.58; Industrial
Crops - GH¢60,085,629.42; Food Crops -
GH¢38,622,702.53; Livestock and Poultry -
GH¢22,067,819.73; Agro Marketing - GH¢3,919,300;
and Agro Processing - GH¢130,860,900.26.

ADB’s investment in the agricultural sector in
the past five years amounts to GH¢500 million.

It is the highest investment into agriculture by
any bank in the country.

Making a presentation at the National Farmers’
Day forum in Bolgatanga in the Upper West Region,
Mrs Sylvia Nyante, Head of Agricultural Finance at
adb, indicated that the agro processing sector has
witnessed significant increase in investment, with
the best performing sector being the fishing and
aquaculture.

The forum was sponsored by adb.

According to her, adb is working hard to ensure
that the Ghanaian farmer gets the best financing
packages for their activities.

"As a bank, we are determined to ensure that we
provide all the necessary financial resources to
our farmers to engage in profitable ventures in
the sector so as to be able to feed our nation and
also export some outside.

“We have many packages our farmers and fishers
can enjoy from once they fulfil the basic
requirements to access a loan facility of their
choice”, she said.

Mrs Nyante, who also acted as fund manager for
several projects, said adb offers massive support
to develop the agro processing sector to serve as
a useful linkage for the primary production
sector.

“The Agricultural Development Bank, even in the
face of stiff competition, is determined to
maintain its position as the best agric financing
bank in the country,” she added.

According to Mrs Nyante, certain challenges
continue to affect the investments of the bank in
the sector, and these include the underdevelopment
of the export market to meet export standards,
inadequate agricultural infrastructure such as
irrigation, processing and storage facilities, and
the importation of cheaper agricultural produce.

Touching on the impact of adb’s investment in
the sector, she said that the bank had invested in
the provision of raw materials for agro processing
companies, the development of the poultry industry
from a subsistence level to a commercial state, as
well as the importation of fishing inputs for
artisanal fishing.

The Minister for Food and Agriculture, Mr Fiifi
Kwetey, in a brief remark, called on the youth to
see the agriculture sector as a worthy venture to
explore.

According to him, the population growth of the
country is expected to grow to over 50 million in
the next 10 years, and if steps are not taken to
make the sector attractive, the country risks
severe food shortage.

Source - The Finder

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