Agribusiness Investment Summit connects over 180 participants

A UT Bank staff telling some participants about their products.
A UT Bank staff telling some participants about their products.

An agribusiness investment summit in Kumasi has brought together over 180 participants.

The event organized by the USAID-Financing Ghanaian Agriculture Project (USAID-FinGAP) brought together poultry and pig farmers, cooperative partners, millers and traders of rice, maize and soy who source their produce from the three northern regions. Also in attendance were 14 banks as well as 12 Business Advisory Service Providers, a press release from the organisers has said.

“We want to demystify agribusiness financing; that it is profitable for banks and for agribusinesses too,” Rick Dvorin, Chief of Party of USAID-FinGAP, was cited as saying at the opening of the summit.

USAID-FinGAP is a five year project that is unlocking financing for agribusinesses in the rice, maize and soy value chains using raw materials from northern Ghana.

The project is building its network of Business Advisory Service providers to identify, prepare and package financial proposals for viable opportunities.

It is also using a combination of performance-based incentives, technical assistance and risk mitigation tools to help financial institutions better support agribusinesses.  Since its inception in July 2013, the project has facilitated over $9.5 million in financing for agribusinesses, with much more in the pipeline through the project’s network, the release noted.

By Emmanuel K. Dogbevi

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