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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    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

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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$23m AFT Fund to support bankable agriculture projects in Sub-Saharan Africa

byBobbie Osei
April 18, 2019
in Agribusiness, Agriculture, Business, Government
The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. REUTERS/Luc Gnago

The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. REUTERS/Luc Gnago

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The African Development Bank is confident a newly secured $ 23 Million grant under the Agriculture Fast Track Fund, will go a long way to improve some aspects of the Agriculture value chain in Ghana.

The funds, which will benefit 17 new projects in 8 countries, is expected to be used for feasibility studies, market analysis, environmental and social impact assessments among others, to aid in the development of a strong pipeline of “bankable” agriculture infrastructure projects.

The Agriculture Fast Track Fund (AFT Fund) custodians of the $23 million dollar grant which was provided by the governments of Denmark (through DANIDA), the US government (through USAID), and Sweden (through Sida), is managed by the Agriculture and Agro-Industry Department of the African Development Bank.

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Of the 17 Small- and Medium-sized Agribusinesses to benefit from the grant, Ghana and Tanzania had the highest number of four beneficiaries each, Burkina Faso, Malawi and Mozambique all had two beneficiaries each, while Ethiopia, Nigeria and Senegal all had single beneficiaries.

Coordinator of the AFT Fund at the AFDB, Dr. Jonas Chianu in an interview with Citi Business News on the sidelines of the launching mission of the 17 newly approved grant projects, highlighted the criteria for the selection of the grantees and the expected impact of the fund.

“When we are looking at the proposals we get, we look at the impact on job creation, gender as well as the impact on agricultural infrastructural development. We expect that because we are intervening from 10 countries the impact of our project will widespread going forward.”

On his part, the head of the Africa Development Unit at the Ministry of Finance Emmanuel Fordjour while commending the donor agencies and the African Development Bank for the funds, said the key role the funding program comes to play within the context of government’s own plans of transforming the agriculture sector in Ghana.

“Government should naturally be providing such support to Ghana agribusinesses, but due to the ever increasing demand on government funds it is unable to. It therefore is a relief to have AfDB support SME’s to enable them come up with bankable projects which will eventually support the growth of the agriculture value chain on the continent.”

The 17 beneficiary Small- and Medium-sized Agribusinesses are expected to receive between $100,000 and $1.5 million dollars for their feasibility studies among other.

For one of the grantees, John Carl Dunyo of Farmeline, the fund will support their attempts to scale up their businesses.

“Hopefully this fund will help us conduct a feasibility study on establishing warehouses in the Upper West Region, Brong Ahafo Region and Ashanti Region of Ghana.”

The fund, according to the Techiman Processing Complex Limited will ultimately assist them in their efforts to improve all aspects of the tomato value chain in the Techiman area and the country at large. Wil Aparloo Ofori is the CEO of Techiman Processing Complex Limited.

“Hopefully this fund helps us secure the needed funds down the line to be able to put the needed systems in place to improve tomato industry value chain. This will put us in a position to produce enough tomatoes so that our market queens will stop going to Burkina Faso for tomatoes.”

–

By: Bobbie Osei/citibusinessnews.com/Ghana

 

 

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[From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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Enterprise Group PLC records 37% rise in revenue in 2021

Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

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