Akufo-Addo laments failure of banks to support agric sector


President Nana Addo Dankwa Akufo-Addo says one of the biggest challenges facing his government is getting financial institutions to invest in agriculture.

President Akufo-Addo says banks find such investments risky and are mostly not interested.

Speaking at the 7th African Leadership Forum in Accra, the President reiterated the need for more investments in the agric sector to ensure food security.

“It’s one of the biggest challenges of my government. [The issue now is] How to be able to shift the flow of resources in the banking system from investing in the paper industry and supporting the agricultural sector or the agribusiness sector. And it has not been easy, and it continues to be difficult because obviously, financing agriculture activities has its own risk,” President Akufo-Addo bemoaned.

The President, Nana Akufo-Addo intimated that despite severe economic challenges, Ghana has avoided food shortages experienced by other West African countries.

He believes that effective policies, including the Planting for Food and Jobs initiative, have played a vital role in ensuring sufficient food production in the country.


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