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    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • TECHNOLOGY

    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

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    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

    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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We’ll continue to invest in agribusiness – ADB pledges after giving out outboard motors

byLawrence Segbefia
July 13, 2020
in Agribusiness, Top Stories
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The Managing Director of the Agricultural Development Bank, (ADB), Dr. John Kofi Mensah, says the bank will continue to focus on its core mandate of investing in agribusiness and farmers.

The bank in its latest move has provided outboard motors worth 20 million cedis to some fisher folk along the coast.

This comes not long after it announced a 500-million-cedi package to boost local poultry production.

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Speaking to journalists after the delivery of the outboard motors, Dr. Mensah said the prices have been heavily subsidized to help the fisher-folk acquire them.

“ADB has placed itself recently to move very hard to push agribusiness. And this includes crops, animal rearing, commercial tree planting, poultry and the fishing industry. It also includes those who engage in fish pond farming and most importantly our fishermen who ply the sea. They are in numbers, all along the coast so we decided to commit twenty million cedis into this project. We avoided all the fees and commission that a private person who would have imported will encounter,” he said.

The Minister for Fisheries and Aquaculture Development, Elizabeth Aforley Quaye, says the collaboration with ADB demonstrates government’s commitment to grow the agric sector.

“There is a clear demonstration of government’s commitment to support the fisherfolk. Since we came, we have done so much to assist them and this is a clear demonstration of the support that President Akufo-Addo assured the fisherfolk. In the history of the Agric bank in the procurement of outboard motors, this is the biggest number that the Bank has ever procured. So, this is a feather in the cap of the President,” she said.

Fisheries constitutes an important sector in the national economic development, as it is estimated to contribute 3 % of the total GDP and 5 % of the GDP in agriculture.

Also, about 10 % of the country’s population is engaged in various aspects of the fishing industry.

Currently, the new fishing license fees approved by the Ministry of Finance and Economic Planning is US$ 200 per gross registered tonnage.

According to the Ministry, the increment is aimed at protecting Ghanaian fishermen.

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Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

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