The Securities and Exchange Commission (SEC) is advocating for an investment fund for the agric sector. SEC believes the initiative will address the long-standing challenges the industry faces in securing credit from financial institutions.
Over the years there have been calls for government to incorporate policies aimed at improving the industry’s access to financial service or set up financial instruments which can help the sector grow.
Though there have been targeted financing, especially with the Export Development and Agricultural Investment Fund (EDAIF) which is expected to propel the growth of Ghana’s agriculture and food processing industry such interventions have yet to rake in the desired impact.
Speaking to Citi Business News Director General of the Securities and Exchange Commission Adu Anane Antwi said the agric sector needs to have an investment fund.
“We have neglected the sector; if you have a sector which lacks resources what do you think would happen to it. People were just relying on their strength to do the farming so if their strength fails them what happens. I think the time has come for us to come out with agric fund which would seek to support the sector as we have done for the oil and gas sector.
That would help us not to kill the sector which has sustained us all these years.” he said
By: Norvan Acquah Hayford/citifmonline.com/Ghana