AgriBusiness

Agriculture average interest rate hits 31.0 percent in September- BoG report

Agric interest rate

Average interest rate on agricultural loans by banks has reached 31.00 percent as at September 2017. This is according to the Bank of Ghana’s Annual Percentage Rate and Average Interest report. The report also shows that National Investment Bank offers the highest agric loans at 37.2 percent. But Bank of Baroda and Standard Chartered Bank offer the lowest rate of ...

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Cashew sector gets major boost

cashew

A trilateral agreement has been signed between Ghana, Brazil and Germany – meant to foster research capacities in the Ghanaian cashew sector as well as to develop cashew apple processing capacities and a market for cashew by-products. Ghana is experiencing a yield gap with a production of 700 kilogrammes per hectare, whereas other countries, including Brazil, are producing about 1,200 ...

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2018 budget to unveil Agric Marshal Plan

2018 Budget

Duties on agro-processing equipment and machinery to be removed Massive road construction and irrigation in food basket areas Pension scheme for cocoa farmers etc. Vice-President Dr Mahamudu Bawumia has said government will use the 2018 budget, scheduled to be presented to Parliament in a month’s time, to support an ambitious agriculture transformation agenda. The Vice President said the Marshall Plan ...

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Ghana, US promote seed sector development

Seed Sector

The United States Agency for International Development (USAID) through the US government’s Feed the Future Initiative last week launched the National Seed Trade Association of Ghana (NASTAG), in collaboration with the Ministry of Food and Agriculture and other development partners. NASTAG is a partnership between producers, traders, government institutions and processors in the seed industry. The Association aims to spur ...

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Over 350 proposals received for 1 district, 1 factory initiative

Proposals

Minister for Trade and Industry, Alan Kyeremateng, has disclosed that government has received over 350 business proposals from investors, so far, who want to be part of the 1 district, 1 factory initiative. “It started very well,” the minister told the B&FT in an interview. “Right now, we have over 350 business promoters that have already submitted their proposals to ...

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PBC Seeks Guarantee to Cut Finance Costs

PBC

PBC Ltd., the biggest buyer of cocoa beans from farmers in Ghana, is seeking to cut borrowing costs by arranging its first government loan guarantee in seven years. PBC is asking for a guarantee of as much as 400 million cedis ($91 million) from the government, acting Chief Executive Officer Nana Agyenim Boateng said in an interview. It’s also hired ...

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MoFA launches €160m programme to assist farmers in 11 northern districts

The Ministry of Food and Agriculture (MoFA) has launched a three-year programme to provide a three-pronged assistance, including credit to farmers in the Savannah agro-ecological zone, to cultivate seven selected staple crops. The Market-Oriented Agricultural Programme (MOAP) hinges on developing the capacity of farmers and other relevant public institutions, as well as the introduction of improved seeds which are also ...

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COCOBOD to compensate farmers who cut down unproductive cocoa trees

Joseph Boahen Aidoo, Chief Executive Officer of COCOBOD has disclosed that his outfit has mapped out a payment plan to compensate all farmers who will cut down their unproductive cocoa trees. “We will pay both farm owners and farmers until the new trees start to bear fruits”, he disclosed. According to him, there were a lot of cocoa trees which ...

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NSS cultivates 1,650 acres of maize

The Executive Director of the National Service Scheme (NSS), Mustapha Ussif has said that the Service has revived its defunct farming operations with the cultivation of more than one thousand six hundred and fifty (1,650) acres of maize at various locations in the country. He mentioned 350 acres cultivated at Dawhenya near the national irrigation canal in the Greater Region, ...

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Low consultation hampers agric initiative

Gender equality in Agriculture

The Peasant Farmers Association of Ghana (PFAG) has blamed the low enrolment by farmers under the Planting for Food and Jobs programme (PFFJ) on poor consultations with all stakeholders prior to its introduction. The Programme Officer of the PFAG, Mr Charles Nyaab told the Graphic Business that the agriculture sector was huge and the government should have consulted with various ...

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