The Ministry of Food and Agriculture (MoFA) has tasked commercial banks in the country to make a significant contribution to agriculture by providing financing to farmers.
Commercial banks' reluctance to help farmers, according to sector Minister Dr. Owusu Afriyie Akoto, was concerning.
"Ideally, banks should give loan facilities to you (farmers) so that you may grow your production." That, however, has not been the case."
...to the point that the President convened a meeting at Jubilee House with the Governor of the Bank of Ghana, myself, and all the Managing Directors of the country's banks. "I spoke at length on the necessity for banks to help the government in the agriculture sector during the stated meeting," he added.
The Minister, who was enthusiastic about the matter, stated that in India, for example, banks have been required to provide a portion of their lending funds to agricultural for the past 30 years.
On Tuesday, June 14, 2022, as part of his working visit in the region, Dr. Akoto spoke to a durbar of chicken producers at the Dormaa Municipal Assembly in the Bono Region. "Now we need to persuade the banks to commit their resources to helping agriculture in the country," he stated emphatically.
Agriculture, which is the backbone of the Ghanaian economy, would continue to suffer if this is not done, he said.
He said that his department was in place to help farmers through various programs, but that the "Ministry of Agriculture is not a bank."
Dr. Akoto said Ghana was lucky to have enough of food in the face of a worldwide food scarcity.
He did, however, say that the issue was rising food prices, which he blamed on high transportation costs. As a result, he reassured farmers that the government would not abandon its efforts to alleviate their predicament.
On the question of a laboratory in the region, the Minister stated that plans to construct a laboratory filled with medications to care for the region's poultry were well progressed.
A durbar was conducted earlier at the Bono Regional Coordinating Council, where the Bono Regional Director of Agriculture, Dennis Abugri Amenga, gave a presentation.
He stated that rice output has increased this year, and that the government's Planting for Food and Jobs (PFJ) program has played a significant role in this achievement.
He indicated that the autumn armyworm was treated with this year, and that the agricultural damage was minimal.
He acknowledged that the outbreaks of Bird flu and African Swine fever killed many animals, but said the disease was now under control thanks to veterinary professionals' involvement.