Financial institutions should make an effort to offer loan facilities to Ghanaian smallholder farmers, according to President Nana Addo Dankwa Akufo-Addo.

He claimed that in order to support the agriculture sector’s major contribution to the Gross Domestic Product (GDP), a paradigm change from the bad credit culture was required.

“The level of credit from our financial system to the sector remains one of the lowest in West Africa,” the President bemoaned, when he addressed a breakfast meeting on agribusiness and agricultural financing, in Accra.

He pointed out that this tendency was not ideal given that Ghana has the second-largest economy in the sub-Region.

“Our farmers have the capacity, ability and willingness to work for increased productivity just as they have done to sustain cocoa production, if given the enabling environment,” he stated.

The Ministry of Food and Agriculture (MoFA) sponsored the breakfast discussion, which covered the prospects and difficulties in agricultural financing.

It fell on the same day as 2023 World Food Day, which had the slogan “Water is life, Water is food.” Never leave anyone behind.