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Company News from Tuesday, June 11, 2019
Source: goldstreetbusiness.com
2019-06-11
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Ghana is expected to benefit from part of a partial EUR 100 million credit guarantee facility recently approved by the Board of Directors of the African Development Bank (AfDB) in order to strengthen commercial agriculture on the African continent.
The credit facility should be invested in modern machinery that will significantly increase yields and hence total production. Investments should target agricultural badets that will support production along several value chains, including wheat, corn, barley, sorghum, livestock and dairy products.
Others include a number of different fruits, vegetables and nuts that have business prospects in terms of revenue. This would not only ensure food security, but would also enhance Africa's competitiveness in the large-scale production of these products.
The project is part of the Bank's strategic priority, which is the transformation of agriculture, which should contribute to expanding access to agricultural finance and aim at increasing food productivity, imports, added value and the promotion of food security.
According to the Bank, this facility could have a significant impact on social and economic development, including job creation for young people, which will facilitate the dissemination of commercial agribusiness and farm operational capacity in Africa. with a high complementarity with small-scale projects. farmers through the transfer of technical, managerial and financial skills.
The commercialization of agriculture involves the production of field crops for sale rather than for domestic or domestic consumption.
The Government of Ghana has taken steps in the same direction to commit adequate funding to the sector to improve yields and production. Recently, she has undertaken to import a number of modern agricultural equipment, such as tractors, from China as part of its efforts to market this sector.
Ghana's agricultural system depends mainly on the weather for its survival and the nature of agriculture in the country is largely based on the traditional base of smallholders. This largely explains Ghana's inability to produce enough to feed the country in the face of a growing population.
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