Barclays Bank Ghana says the bank will soon launch new products to help farmers, as part of moves to invest in the agric sector.
Financing agriculture in Ghana continuous to be a tricky venture for the banking industry, due to its high risk.
Speaking to Citi Business News Head of Corporate Affairs at Barclays Bank Ghana Dr. Shola Safo-Duodo said the bank is ready to invest in the agric sector to help grow the economy.
“Previously we had a business banking sector and now we have reinvested in researching the SME market in Ghana and other African countries
by setting up a business banking function to make sure that we are aligned and that we understand exactly what the market needs.
Very soon we will be launching the new business banking sector and i mentioned that for example we have identified agric business as a very
key area not only for Ghana but other African countries, so we have the support of Barclays Africa to invest in that sector.”
Industry players in the agric sector have over the years lamented the difficulty in raising finance from commercial banks to pursue agribusiness.
Barclays bank says establishing a business department in agriculture to discuss business strategies with farmers and helping them understand
that making regular planned investments in machinery and equipment, can encourage growth in their businesses.
The bank says it is ready to partner government and farmers grow the agric industry.
By: Norvan Acquah-Hayford/citifmonline.com/Ghana