Agriculture remains largely under-funded in Ghana despite its importance to the economy and high growth potential. Banks in Ghana are reluctant to extend loans to AgriSMEs mainly due to high perceived risk associated with the agricultural sector. Existing annual agriculture financing only represents approximately 3.6 per cent of all loans and advances from banks.
CrossBoundary Advisory is leading a consortium of 7 partners implementing the Mastercard Foundation program designed to help build resilience and invest in the development and growth of Ghanaian entrepreneurs in agriculture. The program recently received approval from the Bank of Ghana to proceed to implementation.
BRIDGE-in agriculture, which is the acronym for Building Resilience and Investing in the Development and Growth of Entrepreneurs in Agriculture, aims to facilitate access to affordable capital for SMEs in agriculture and adjacent sectors in Ghana. The program will address three objectives as outlined in the Mastercard Foundation's Youth Entrepreneurship and Development in Agriculture (YENDA) Initiative: access to capital and other financial services; technical assistance to banks; and ecosystem development.
Ultimately, the program goal is to help over 400,000 participants in Ghana (at least 70% women) with either access to affordable capital or skills and training support to secure dignified and fulfilling work in agriculture or agriculture-adjacent fields.
Agriculture in Africa Media LBG| Email: press@agricinafrica.com
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