No Result
View All Result
Wednesday, March 29, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    DBG commits to resolve bottle necks limiting economic resilience

    Kamala Harris calls for investment to empower women

    Ghana’s IMF progress: Paris Club, China & other creditors agree to form OCC

    Economic crisis: US to seek Paris Club’s support for Ghana

    Bank of Ghana increases Monetary Policy rate to 29.5%

    China assures Ghana of support in servicing debt relief

    US will increase investments in Africa to propel growth – Kamala Harris

    Ghana’s public debt stock still at ¢575.7bn – BoG data

    Govt pays additional coupons on matured bonds

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    DBG commits to resolve bottle necks limiting economic resilience

    Kamala Harris calls for investment to empower women

    Ghana’s IMF progress: Paris Club, China & other creditors agree to form OCC

    Economic crisis: US to seek Paris Club’s support for Ghana

    Bank of Ghana increases Monetary Policy rate to 29.5%

    China assures Ghana of support in servicing debt relief

    US will increase investments in Africa to propel growth – Kamala Harris

    Ghana’s public debt stock still at ¢575.7bn – BoG data

    Govt pays additional coupons on matured bonds

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

    Abena Amoah named in WFE’s top 20 women leaders

    International Women’s Day: Female engineering students tour Karpowership

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

BoG intensifies moves to get funding for agric sector

bycitibusinessnews
February 10, 2017
in Banking And Finance, Government, Top Stories
Dr. Abdul Nashir Issahaku

Dr. Abdul Nashir Issahaku

Share on FacebookShare on TwitterShare on Whatsapp

The Bank of Ghana(BoG) has intensified moves to encourage commercial banks in the country to cede some portion of their annual funds as credit to farmers in the Agriculture sector.

Even though the sector is seen as a major catalyst that could accelerate economic development, credit to stakeholders in the sector has dwindled over the years due to high risk associated with the agriculture.

Speaking to Citi Business News, the Governor of the Bank of Ghana, Dr. Abdul-Nashiru Issahaku stated that the central bank’s inflation targeting policy would be greatly improved if the agriculture sector is financed since food inflation is a major component in the inflation basket.

ADVERTISEMENT

“One of the biggest mandates of the [central] bank is stabilizing prices, which means lowering inflation. We note that [that] has been the contribution of food inflation and I think it’s important that we consider support to the agric sector as very significant. In this light the Bank of Ghana in the past has implemented policies that continue to make available more credit to the agriculture sector,” he recounted.

Dr. Issahaku maintained that the sector could improve the livelihood of the huge number of farmers’ operating in the sector if adequate funding is provided.

He bemoaned the situation where most financial institutions consider the Agriculture sector as a high risk venture hence, pay less attention to it when preparing their budgets.

“For all the nice stories told about the Agriculture sector and its potential for poverty alleviation it remains the most credit neglected and unfunded sector of the economy”.

“Despite perceived risk associated with the agriculture sector due its unfavorable review, it is an area highly dear to my heart and I will welcome industry players to consider this promising sector,” he appealed.

He assured that the central bank will continue to encourage commercial banks in the country to invest in the sector.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

Related Posts

Local Economy

DBG commits to resolve bottle necks limiting economic resilience

byEmmanuel Oppong

The Development Bank Ghana (DBG) has indicated that it is committed to enhancing strategic measures to resolve the bottle necks...

Read more

Kamala Harris calls for investment to empower women

Economic crisis: US to seek Paris Club’s support for Ghana

Bank of Ghana increases Monetary Policy rate to 29.5%

China assures Ghana of support in servicing debt relief

US will increase investments in Africa to propel growth – Kamala Harris

Ghana’s public debt stock still at ¢575.7bn – BoG data

Next Post

Nigeria: Arik Air Vows to Challenge Govt Takeover

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.