The Ghana Export Import Bank will support the shea industry with 10 million cedis

Company News from Tuesday, June 11, 2019

Source: citibusinessnews.com

2019-06-11

Ghana Export-Import Bank has announced that it has secured 10 million Cedis for the first phase of its Shea Empowerment Initiative.

The initiative aims to train 400 women in shea processing in four districts of the Northern Region, including Walewale, Wa, Gushegu and Kasena Nankana.

In an interview with Citi Business News, Lawrence Agyinsam, chief executive officer of the Ghana Export-Import Bank, said the initiative was part of the government's flagship program, a district, a factory.

It also confirms that the bank will provide security tools to 1,200 shea collectors in the North. He added that this initiative aims to develop the capabilities of women in the shea value chain.

"Given the size of the market and its global potential, we sought approval for 10 million Ghana Cedis to invest in the equity sector. With this, we hope to support about 1,600 women and if each household depends on women in each household, the income that goes to the different households will support the families of these women. "

It is stated that some of the challenges facing the shea sector include certification of quality standards, access to technology, market access, access to finance, packaging as well as than logistics.

As part of the Shea Empowerment Initiative, 1,200 women will be grouped and trained in shea collection. It is expected that they receive 10 GHC per day during their training, as well as the provision of a hunter's lamp, safety boots and gloves.

Each district will receive a tricycle for collection, while 600 snake vaccines will be provided to district hospitals.

Mr. Agyinsam said the program would accelerate the development of rural economies in Ghana.