Otumfuo calls on financial institutions to increase credit to agriculture

Otumfuo Osei Tutu II, Asantehene, has tasked financial institutions to do more to increase access to loans by farmers and agri-businesses.

They should also collaborate with research institutions to devise innovative means through which farmers could be trained to adopt improved technology in their work, for increased productivity, to help ensure food security.

He noted that the agricultural sector remains one of the key areas of the economy as it employs about 60 per cent of the nation’s workforce, stressing that, the time has come to invest in the sector to eradicate poverty.

Otumfuo Osei Tutu made the call, when the management of Stanbic Bank Limited, led by Alhaji Alhassan Andani, the Managing Director, paid a courtesy call on him at the Manhyia Palace, in Kumasi, on Wednesday.

The call was to officially invite the Asantehene for the Stanbic Invitational Golf Tournament, to be staged at the Royal Golf Course, in Kumasi, on September 25.

The Asantehene was not happy at the inability of most Ghanaians to save their monies with the banks and urged managers of the financial institutions to reach out to the citizenry to explain to them the need to adopt saving culture.

He said by so doing the financial base of the banks could be enhanced to boost their operations whiles also ensuring the safety of the monies of those that save with them.

Alhaji Andani commended the Asantehene for his good leadership qualities and various development initiatives, which had brought sustainable growth in all sectors of the economy, especially in the Ashanti region.

He gave the assurance that the bank would continue to expand its operations in the region to the benefit of the people.

Source: GNA