US government to finance Ghana's agric sector

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US government commits $115 million to Ghana’s agric sector

New from Fair Trade AgroFood-WestAfrica.com

The US government has revealed its intentions to finance Ghana's agric sector.

Melinda Tabler-Stone, Chargé d'affaires of the US Embassy-Ghana says her outfit has rolled out an initiative called Feed the Future  and has mobilized more than $115 million in private sector investment for Ghana’s agricultural productivity, boost incomes, and link farmers to market and trade opportunities.

She explains that the US government has recognised the challenge of access to private capital and markets and therefore the US is fully committed to working with its partners and the government of Ghana for a solution.

“Together with the government of Ghana development partners, we support small, medium and large enterprises in the maize, rice, and soy value chains. That support includes helping them form strategic partnerships and gain access to finance. To date, we have mobilized more than $115 million in private-sector investment for Ghana’s agricultural sector".

This achievement has directly benefited more than 95,000 smallholder farmers in northern Ghana – and 40 percent of them are women,” she said.

Furthermore, she says the US is also promoting alternative and competitive sources of agricultural financing through the Ghana Alternative Market, which is operated by the Ghana Stock Exchange.

The United States Agency for International Development (USAID), through the US government’s Feed the Future Initiative, hosted the fourth annual agribusiness investment summit to showcase investment opportunities in Ghana’s agribusiness.

The event which was under the theme, ‘Mobilizing Strategic Investment for Agriculture”, brought together business service providers, financial institutions, agribusinesses, farmers, development partners and the Ghana government.

The main aim of the event was to spotlight Ghanaian agribusinesses, and link them with viable private investment opportunities.

The event featured panel discussions on subjects including opportunities in the agriculture sector, the importance of forming strategic partnerships to enhance agricultural productivity, and alternative sources of financing for agribusiness.