No Result
View All Result
Tuesday, February 7, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    DDEP: Government hopeful bondholders will register for programme

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

    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

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

    Pensioners to picket at Finance Ministry over DDE

    Ghana begins to locally manufacture its own bullion vans to combat robbery

    MTN’s aYo insurance covers over 8 million Ghanaians in 5 years

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

    Nigeria ranks number one globally for cryptocurrency usage and ownership

    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

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

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

  • TECHNOLOGY

    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

    E-commerce in Ghana – statistics & facts

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

    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

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

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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

    DDEP: Government hopeful bondholders will register for programme

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

    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

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

    Pensioners to picket at Finance Ministry over DDE

    Ghana begins to locally manufacture its own bullion vans to combat robbery

    MTN’s aYo insurance covers over 8 million Ghanaians in 5 years

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

    Nigeria ranks number one globally for cryptocurrency usage and ownership

    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

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

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

  • TECHNOLOGY

    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

    E-commerce in Ghana – statistics & facts

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

    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

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

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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

GCX partners Venture Capital Trust Fund to support commodity traders

byLawrence Segbefia
May 14, 2020
in Agribusiness, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

The Ghana Commodity Exchange has signed a Memorandum of Understanding with the Venture Capital Trust Fund (VCTF), to support brokers and help them have access to farmers in trading their farm produce.

The move will also help thousands of farmers to get a good price for their harvest, while ensuring food security for the state.

The Ghana Commodity Exchange provides a platform that links agricultural and commodity producers and buyers to secure competitive prices for farmers’ produce.

ADVERTISEMENT

Speaking to Citi Business News, the Chief Executive of the Ghana Commodity Exchange, Dr. Kadri Alfah, was hopeful the agreement will help farmers earn more money from their produce.

“The farmers require market. The MoU will ensure that we have a selected number of brokers who will through the Venture Capital Trust Fund, and will be able to go to these farmers and aggregate a selling quantity of commodities and provide a direct market for the farmers,” he said.

He explained that the partnership is part of the Government of Ghana’s efforts to boost Ghana’s food security, encourage youth in agriculture, and support Ghanaian smallholder farmers to improve their livelihoods and increase their incomes.

Dr. Alfah stated that the amount will be initially advanced to selected young agricultural entrepreneurs for the mobilization of selected commodities from within Ghana, from over 10,000 farmers, for onward supply within Ghana and neighboring West African countries.

Other terms in the MoU

VCTF has also agreed to provide essential training for approved businesses and enterprises, as well as support them with the necessary business advisory and technical services such as accounting, management, business strategy formulation and marketing.

Again, VCTF would support the selected entrepreneurs with corporate matching and mentoring through its executive mentoring program.

Ghana Commodity Exchange on the other hand would provide essential quality enhancement services such as cleaning, drying, sorting, to ensure that these commodities meet national and international standards before storing and subsequently trading them from GCX certified warehouses.

Importantly, GCX has also committed, through the MOU, to act as facilitator to implement this program.

This will be made possible by providing the necessary monitoring and supervision, technical and operational backstopping for quality control and to ensure strict compliance with GCX standards, while providing a ready market for commodities aggregated under the programme.

Furthermore, GCX has agreed to support selected aggregators with the required technical expertise on aggregation strategies, value-chain support tools and the necessary value-chain risk assessment techniques.

The Exchange would leverage its expertise in this field in order to make the collaboration successful.

Additionally, as part of this collaboration, both parties have agreed to engage with government to jointly secure the most appropriate funding mechanism for regional commodity aggregation, with the aim of reducing poverty through job and wealth creation.

This collaboration will go a long way to create prosperity for all in the agriculture value chain and make Ghana a regional and global trading hub for all commodities.

Related Posts

Local Economy

DDEP: Government hopeful bondholders will register for programme

bycitibusinessnews

Government is optimistic all bondholders will sign up for the Domestic Debt Exchange Programme, as registration unto the programme expires...

Read more

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

DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

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

Pensioners to picket at Finance Ministry over DDE

Ghana begins to locally manufacture its own bullion vans to combat robbery

Next Post

Registrar General issues guidelines for virtual AGMs

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.