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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

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    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    Vodafone agrees sell stake in Ghana’s business to Telecel

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    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

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    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

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Finance Ministry pledges $1m to WACCI

bycitibusinessnews
June 8, 2017
in Government, Local Economy, Top Stories
Ken Ofori-Atta - Finance Minister

Ken Ofori-Atta - Finance Minister

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Finance Minister, Ken Ofori-Atta has pledged a sum of 1 million dollars to be donated to the West African Centre for Crop Improvement (WACCI) to improve Ghana’s food security.

The West African Centre for Crop Improvement equips plant breeders with the knowledge and skills to develop superior varieties of indigenous crops. This is expected to reduce imports of agric produce.

According to Ken Ofori- Atta, Ghana currently spends about 1.2 billion dollars in food imports alone, a situation he describes as unacceptable.

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Speaking at the 10th anniversary ceremony of the WACCI, Mr. Ofori-Atta said the financial support should make Ghana self-sufficient in food production.

“Let me start the ball rolling by pledging from the Ministry of Finance 1 million dollars for the completion and furnishing of the West Africa Centre for Crop Improvement building”

He further challenged the institute to pursue excellence in order to make it the greatest crop research Centre in Africa.

“I hope it will help and I expect it to become the greatest Centre for plant breeding education in Africa and the world and attract funding as such,”he said.

The one million dollars will part of the projected 35 million dollars targeted by the WACCI programme beyond the Alliance for a Green Revolution in Africa(AGRA) and World Bank funded phase.

About WACCI

The West Africa Centre for Crop Improvement (WACCI) is a partnership between the University of Ghana (UG) and Cornell University, USA that was established in June 2007 with funding from the Alliance for a Green Revolution in Africa (AGRA) at the University of Ghana to train Plant Breeders in Africa working on the improvement of African crops in local environments for farmers in Africa.

Meanwhile the Vice President of AGRA, Dr. Joseph DeVries stated that Ghana is now capable of producing the best quality seeds to enhance crop production.

“Ghana now has strong capabilities in plant breeding, so I don’t see why Ghana cannot develop a whole new generation of crop varieties even the best in West Africa but it needs to be funded so the challenge of that now has to be thrown to the government to ensure its sustainability”.

–

By: Anita Arthur/citibusinessnews.om/Ghana

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