ADVANS Ghana to give credit to farmers

All is set for Advans Ghana limited to roll out a product next year that will enable individuals and institutions in the agricultural sector to have easy access to funds.

Advans Ghana, a savings and loan company, is to make monies easily available and accessible to local farmers and people in agricultural businesses.

A feasibility study for the project to commence had already been conducted and a pilot phase to work out and try the modalities for implementation across the country is yet to start soon for farmers in and around Koforidua in the Eastern Region.

Speaking with the Ghana News Agency (GNA) on Friday in Koforidua, the Managing Director, Mr Tanguy Gravot said farming is a different venture as compared to trading, hence that area needed a well tailored product.

A trader is most likely assured of a turnover as compared to a farmer, who has a high unpredictable weather condition, hence the  product would be tailored not to burden the farmer the year round in order for all to benefit.

As a company established in 2008 to provide cash depository services, Advans Ghana also offer complimentary services like money transfer, and e-zwich.

Mr Gravot indicated that the outcome of the pilot project would ensure that all manner of persons within the agri-business were served.

The Managing Director indicated, “A comparative analysis has been done to ensure that interest rates are kept at a minimal for the small scale farmer as well as the mechanized farmer and those in the agricultural production and processing sector”.

“After the Eastern Region the product would be rolled out across the country and made accessible to farmers everywhere as Advans Ghana extends its service to everyone across board”, he noted.

He said that the opening of its seventh branch in that part of the country served as the base of the intention of the company to serve the petty trader, farmers, micro-small and medium enterprises [MSMEs] and all and sundry to make life meaningful.

“For instance our loans for individuals have low interest rates, flexible collateral and a beneficiary must not necessarily hold an account with us while for MSME’s we ensure low processing fees, not aggressive
interest rates and a well tailored repayment plan . Groups of a minimum three persons and six maximum can also access our facility”, Mr. Gravot stated.

He further indicated that Advans Ghana might engaged the service of an organization with the technical expertise to provide the know-how to its farming loan beneficiaries and production methods to make them increase their yields as way of helping them pay back their loans on time.

Source: GNA

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