Business News of Thursday, 17 April 2025

Source: Chris Koney, Contributor

GEXIM to offer concessional loans – President Mahama

President John Dramani Mahama waving President John Dramani Mahama waving

President John Dramani Mahama, has announced his government’s readiness to reposition the Ghana Export-Import Bank (GEXIM), the country’s leading policy and development bank, to play a pivotal role in transforming Ghana’s agricultural sector.

President Mahama made this announcement at the launch of the Feed Ghana Program on Saturday, April 12, 2025, in Techiman, located in the Bono East Region.

The program is expected to significantly impact the agricultural landscape by supporting farmers to boost production and enhance national food security.

In his address, the President emphasised the need for innovative financing solutions in agriculture, stating:

“Financing remains one of the key barriers to agricultural investment. To address this, Exim Bank will be refocused to offer concessional loans to farmers and agricultural enterprises, especially those involved in export and value addition.

"The government will also develop agro-processing zones equipped with irrigation, roads, power, and warehousing to attract private investment and facilitate the processing of agricultural produce,” he stated.

The Feed Ghana Program aims to enhance agricultural productivity to feed the local population, supply raw materials for agro-processing factories, and create employment opportunities for the youth.

The initiative includes sub-projects focused on vegetables, grains, poultry, oil palm, tubers, and other import substitutes to reduce Ghana’s dependency on imports and transition toward an export-driven economy.

Speaking to the media after the event, the Acting Chief Executive of GEXIM, Sylvester Mensah, expressed the Bank’s commitment to supporting the Feed Ghana Program.

He noted that the initiative aligns with the Bank’s immediate priorities of increasing food production, supporting agro-processing, and investing in projects with strong job creation potential.