Absa Bank Ghana Limited has called for greater and enhanced partnerships in the agricultural value chain to drive up the productivity of smallholder farmers.
Speaking on the second Channel One TV‘s CitiBusinessFestival Roundtable on the topic Exploring Agribusiness Growth Opportunities, the head of Agribusiness at Absa Bank Ghana, William Branford Nartey, said technology is one of the major factors driving productivity, which he said due to limitations, partnerships must be formed to bridge those limitations.
Mr. Nartey told the moderator, Vivian Kai Lokko, that Absa Bank Ghana has currently partnered with rural banks to give smallholder farmers loans to help them in their production.
“It has to be technology and for us as a bank, we provide financing for technology and inputs and what we are doing is because of our branches that do not reach to the last mile, we are working with partners by lending to rural banks at 10 percent and they then lend to smallholder farmers because the rural banks know the farmers and have worked with them over the years.”
He added that formidable partnerships are essential to dealing with the issues negatively affecting and reducing productivity.
“The issues in the agricultural value chain are true and they live with us. Issues about pests, availability of lands, and post-harvest losses are real and we need to find solutions to them. If we don’t find solutions to them, they will affect productivity, so we need to make sure that the chain is working.”
The Citi Business Festival 2024 is powered by 97.3 Citi FM and Channel One TV in partnership with Absa Bank and is sponsored by MTN Business, GIRSAL, AMG Fertilizer, Nsano Ltd and Agri-Impact Limited
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