President Nana Addo Dankwa Akuffo-Addo has called on banks to offer relatively cheaper and long-term loans to Ghana's agricultural sector to propel the country's economic growth.
"> The President said even though Ghana is the second largest economy in the West Africa region, banks in the country offer the lowest support to the private sector and in particular, the agricultural sector.
President Akuffo-Addo said it was disappointing that Ghanaian bank's support to the agriculture sector was lower than Senegal, Cote D-Ivoire and yet the country's GDP was the second largest in the region. Also, the Minister indicated that the other challenge had to do with the timing of disbursements for the fortunate few who can go past the bank's rigidities.
Dr Acheampong said as partners who are not only driven by profit but also by collective national development agenda,"We cannot continue to do the same thing and expect different results." "In the immediate term , we are supplying 4.5-million-day-old chicks, vaccines and starter-pack feed to anchor farmers and their out growers."
Similarly, he said for rice, his ministry was rolling out specific interventions to increase local production and reduce import levels and the national target, he indicated, was to attain self-sufficiency in 2028 with a total paddy production of 3.31 million MT .
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