Lack of financial support from government, high cost of credit from banks, as well as unfavorable market dynamics are some of the challenges pushing the Poultry Farmers Association of Ghana to establish a bank.
The farmers believe the establishment of a bank will spur up growth of poultry production in Ghana.
Vice President of the Poultry Farmers’ Association, Napoleon Agyeman Oduro in an interview with Citi Business News explained that following their numerous pleas to government for support, the poultry farmers association have decided to set up a bank to offer the members financial support.
He believes the move will assist the farmers largely to access cheap credit, while ensuring local poultry production is increased.
“We are in a country made up of different sectors forming the national economy and for the last thirty years we have not received any working policy for the poultry industry. In recent times, the last almost one and a half years of the recent administration, we have not heard anything and it is a cause to worry”.
For these poultry farmers, their best shot at sustaining the poultry industry remains a bank since government has neglected them for a very long time.
“We are investors, if we have to invest our money to really take care of this dying industry, why not? We can come together as people who have identified opportunities in the poultry industry and come together with our resources,” he added.
Some members of the poultry farmers’ association also argue that their inability to acquire loans from banks to establish and build their business also forms parts of reasons they intend to set up their own bank.
A poultry farmer, Savior Kusi also justified the need for a bank.
“The poultry farmers association have on numerous occasions called on government for support to enhance their production and to an extent export to other countries. But their call has proved effortless as government continues to ignore that livestock subsector. Their agitations have led them to resort to the bank with which they describe as their last hope,” he said on the Citi Breakfast Show.
Meanwhile Mr. Napoleon Agyeman Oduro is positive setting up a bank will turnaround poultry production in Ghana.
“It surely will be beneficial because we have investors in this area and no producer has it all. At any given time you will need a financial push and if you are not getting the support, nothing will stop us to put our resources together, it could be in the form of credit union”.
He further noted that “We have to blame the banks because there is a starting point for every business so if they are not willing to be risk lovers to push us, then how can we start something? So they must also take that risk. Why are the banks willing to give the market women and other businessmen but when one wants to venture into Agric then you are ignored”.
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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana