In a significant advancement aimed at boosting agricultural productivity and ensuring food security, Ghana’s Minister for Food and Agriculture, Eric Opoku, has inaugurated a US$1 million revolving fund designed to assist smallholder farmers in the northern regions of the country.
This fund, created in collaboration with ARB Apex Bank, was unveiled during a ceremony in Accra. It is supported by a US$20 million grant from the Global Agriculture and Food Security Programme (GAFSP), along with additional backing from the African Development Bank (AfDB).
During his address at the event, Eric Opoku praised the initiative for its considerable impact on Ghana’s agricultural landscape, especially within the Northern Savannah Ecological Zone. He also expressed appreciation to the AfDB for its continuous commitment to promoting sustainable agricultural development in Ghana.
“This initiative transcends mere financial support; it aims to establish sustainable and resilient food systems that will enhance the livelihoods of our communities,” the Minister remarked.
The program is set to target 12 districts across six regions, with the goal of benefiting thousands of smallholder farmers, particularly focusing on women and youth—demographics that are disproportionately affected by food insecurity.
Key elements of the project include:
– Access to climate-smart agricultural inputs for staple crops such as maize, rice, soybean, cowpea, and groundnuts.
– Enhanced mechanization services through the provision of handheld equipment.
– Distribution of solar-powered micro-irrigation kits to support year-round vegetable cultivation.
– Promotion of household poultry farming to improve nutritional diversity.
– Establishment of the US$1 million revolving fund, which will offer affordable financial services to participants in the agricultural value chain.
The revolving fund is anticipated to deliver essential capital at competitive interest rates, enabling farmers and agribusinesses to expand their operations, boost productivity, and enhance resilience against climate-related challenges.
