• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Friday, June 9, 2023
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News

Government to Force Banks to Give Loans to Farmers-Agric Minister

News Reporter by News Reporter
June 20, 2022
in Ghana News
0
Government to Force Banks to Give Loans to Farmers-Agric Minister
19
SHARES
103
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto has revealed that the government will soon introduce a bill to be presented to Parliament for approval that will compel commercial banks in Ghana to give loan to farmers.

He explained that the government has done its part in supporting the farmers by subsiding inputs therefore, the banks will have also play their role in ensuring sustainable food production in the country by giving out loans to the farmers and other players in the sector.

You might also like

Evans Mensah of Joy Fm Takes Bribe to Kill Stories Exposed

Court remands man for insulting Akufo-Addo

Akufo Addo and Bawumia increases electricity tariff by 18.36%

Dr Afriyie Akoto said Ghana would not be the first country to introduce such a law, citing India as an example which he said has done it for over 30 years.

He said these when he toured some selected commercial farms in the Eastern Region over the weekend monitored by TV3’s Eastern Regional Correspondent Yvonne Neequaye.

He further explained that the cost of farming has hot up due to factors beyond the control of government.

“When we met the poultry farmers, it is very obvious that prices of poultry feeds which make up 70 per cent of cost of production has gone up. If you compare prices this year in January, February, March, April and May, and compare to the same period in 2021, 2020, 2019, the prices have shot up. They have shot up for very simple reason that the chemicals have gone up two or three times and that means the cost of production has gone up on the farm.

“At the same time, fuel prices have trebled and it means that haulage from the farm gate to the centres of consumption have also gone up. So, these we don’t have control over, these are external factors that are impacting seriously on the price formation.

“The thing is that because of that the cost of doing business in Agriculture has gone up and that is why poultry farmers for instance, those who were doing 150,000 birds, have now reduced to 50,000 because their working capital cannot support the new higher prices. That is where the banks have failed us in agriculture, because the banks which are doing business with these poultry farmers should be able to give them credit to sustain their production at those levels or even increase it.

“Unfortunately, the banks have stayed away and therefore they are having to reduce the level of level of production. Their interpretation had been that government, in spite of all that is happening we had done anything. [But] we took the trouble, more than one and half hours, to explain to them what the government is doing in trying to rectify the situation. After the explanation it was obvious that they were very satisfied with the efforts we have made.

“We are making a whole lot of efforts to ensure that we bring in the commercial banks including possibility of introducing legislations so that commercial banks would have to lend a portion of there portfolio to farmers and those in the value chain, the processers and others. We wouldn’t be the first country in the world to do that, India has been practicing that for 30 years.

“So definitely you are going to hear something in Parliament about this issue, as a way of making sure the commercial banks plays their role because government is playing its role by subsiding inputs and fertilizer, the banks should be able to lend to agriculture.”

Source:3News

Previous Post

John Mahama ignored my advice to establish a university at Bunso – Okyenhene

Next Post

Transport fares expected to go up by 10%

News Reporter

News Reporter

Related Posts

Evans Mensah of Joy Fm Takes Bribe to Kill Stories Exposed
Ghana News

Evans Mensah of Joy Fm Takes Bribe to Kill Stories Exposed

by News Reporter
May 20, 2023
Court remands man for insulting Akufo-Addo
Ghana News

Court remands man for insulting Akufo-Addo

by News Reporter
May 17, 2023
Akufo Addo and Bawumia increases electricity tariff by 18.36%
Ghana News

Akufo Addo and Bawumia increases electricity tariff by 18.36%

by News Reporter
May 17, 2023
Prof. Frimpong Boateng Admits Intercepted Documents Shown By Kevin Taylor are Legit Documents He Wrote to Prez. Akufo Addo
Ghana News

Prof. Frimpong Boateng Admits Intercepted Documents Shown By Kevin Taylor are Legit Documents He Wrote to Prez. Akufo Addo

by News Reporter
April 18, 2023
Documents: Jubilee House Galamsey Gangs
Ghana News

Documents: Jubilee House Galamsey Gangs

by News Reporter
April 17, 2023
Next Post
Transport fares expected to go up by 10%

Transport fares expected to go up by 10%

Recommended

WADR: Fact Checking the widely Circulated Lies

February 11, 2022
How Trump has broken the polls

How Trump has broken the polls

May 3, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

Evans Mensah of Joy Fm Takes Bribe to Kill Stories Exposed
Ghana News

Evans Mensah of Joy Fm Takes Bribe to Kill Stories Exposed

May 20, 2023
Court remands man for insulting Akufo-Addo
Ghana News

Court remands man for insulting Akufo-Addo

May 17, 2023
Akufo Addo and Bawumia increases electricity tariff by 18.36%
Ghana News

Akufo Addo and Bawumia increases electricity tariff by 18.36%

May 17, 2023
Prof. Frimpong Boateng Admits Intercepted Documents Shown By Kevin Taylor are Legit Documents He Wrote to Prez. Akufo Addo
Ghana News

Prof. Frimpong Boateng Admits Intercepted Documents Shown By Kevin Taylor are Legit Documents He Wrote to Prez. Akufo Addo

April 18, 2023
Documents: Jubilee House Galamsey Gangs
Ghana News

Documents: Jubilee House Galamsey Gangs

April 17, 2023
Breaking: ECG cut Power Supply to Tema Oil Refinery over failure to pay 10 Million Cedis debt
Ghana News

Breaking: ECG cut Power Supply to Tema Oil Refinery over failure to pay 10 Million Cedis debt

April 12, 2023

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.