Investment in the agric sector still remains low
ADB pledges to increase support for agric sector
COVID-19 pandemic impacted agribusiness sector
Board Chair of the Agricultural Development Bank Limited, Daasebre Akuamoah Agyapong II has given a firm assurance of supporting Ghana’s agribusiness sector to propel growth and job creation.
According to him, the sector which contributes largely to the growth of the economy, therefore, requires increased investment to spur growth.
Speaking during a working visit to the Ghana Oil Palm Development Company (GOPDC) in Kwae-Kade in the Eastern region, the ADB Board Chair said the Bank remains committed to delivering on its core mandate centered agricultural financing.
“We will continue to provide financial support to companies and industries, especially in the agribusiness sector to ensure food security and better economic growth. ADB will also continue with its strategy of disbursing more loans to companies and individuals within the agribusiness value chain in 2022 and this to further consolidate the positive contribution of the agricultural sector to the Ghanaian economy,” Daasebre Akuamoah Agyapong II is quoted by Citi Business News.
Dr. John Kofi Mensah, Managing Director of the ADB on his part lauded the management of the Ghana Oil Palm Development Company for its outgrower scheme which has aided in creating job for persons within the Kwae-Kade areas and its environs.
“I also want to assure management of GOPDC of ADB’s support in expanding its operations to create more jobs and produce more products to meet both local and foreign demand,” the ADB MD said.
Gangadhar Shetty, Managing Director of the GOPDC expressed gratitude to the ADB for their constant support to Ghana’s agricultural sector.
He added that his outfit is working tirelessly to meet the growing demand for oil palm produce in a bid to curb the importation of oil into Ghana.
Ghana Oil Palm Development Company
The GOPC was first established in 1975 for the cultivation of oil palm, rubber and cattle ranching. The company which is now privately owned is a member of the Siat Group of Belgium.
The Group specializes in the cultivation of oil palm, extraction of crude palm oil and palm kernel oil and produces refined specialty oils for use by the food industry.
The GOPC boasts about 21,000 hectares of oil palm plantations.