Fields of Gold by adb When adb sneezes, Ghana's Agric sector catches a cold

This is why the Agricultural Development Bank is essential to the Agriculture ecosystem in Ghana as they put a special emphasis on Agric support.

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Yaw Amponsah owns a piggery in Dodowa in Accra, with a total population of over five hundred pigs.

He is looking to expand because, currently, he is able to service only 40% of total demand.

In order to expand to a 1500-capacity piggery, he needs to acquire extra land and erect new structures, which require an investment of not less than GHC 100,000.

READ MORE: Agricultural Development Bank ADB extends its Saturday Banking services across the country

Yaw Amponsah’s options of raising that amount of money is limited, as not many financial institutions in Ghana would be willing to finance such an Agricultural Venture.

This is why the Agricultural Development Bank is essential to the Agriculture ecosystem in Ghana as they put a special emphasis on Agric support.

Its Agriculture Financing Department provides financing for four key Agric activities namely:

  • Primary Production, which entails food, industrial and cash crop production, fishing and livestock raising.
  • Agro-processing, which involves the processing of Agricultural Produce.
  • Agro-Marketing; Which entails the storage, warehousing, transportation, concentration distribution and marketing of agricultural produce locally or for export
  • distribution and marketing of agricultural produce locally or for export
  • Agro Input Supply; Agro Input Supply: Supply of production inputs of all kinds such as fertilizers, protection inputs seeds, irrigation equipment, other farm machinery and equipment.

Clearly, while other banks would do everything in their power to avoid financing of agricultural activities because of its risky nature, ADB has braced the odds and have been formidable in supporting the sector.

For Yaw Amponsah, for example, ADB is ready to provide:

Long Term Loan, set aside for new and existing projects that require heavy capital outlay and/or long gestation periods, usually beyond 5 years.

Short Term Credit, which is typically granted as working capital to meet production, transportation, and marketing of agric produce for up to 12 months. Could be a loan or overdraft.

Or a Medium Term Loan, granted for the purchasing of farm equipment and machinery, simple processing equipment and cash crops/livestock with gestation periods between 12 months and 5 years.

Guarantees/Non Funded Facilities- ADB’s Agriculture Financing Unit provides guarantees and other non funded facilities such as letters of credit to enable agricultural clients acquire machinery, plant and equipment, raw materials, etc and to enable such clients win and/or execute contracts

All these go to show how essential ADB is to the Agricultural Ecosystem of Ghana.

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