Ghana is likely to lose out on Africa’s one trillion-dollar agriculture economy if existing trade agreements aimed at improving the business climate of agribusiness is not tackled.
This was made known at the African Agribusiness Leadership Dialogue by the Food and Agriculture Organization (FAO) where stakeholders in the agriculture value chain deliberated on key issues impeding the advancement of agriculture in the country.
Recent trends in Africa provide significant opportunities for private sector-led growth that can stimulate investments and drive rural and agricultural transformation in African countries.
Sadly, existing challenges like poor Agric financing and non-tariff barriers and conflicts impede the growth of the sector.
Speaking at the African Agribusiness Leadership Dialogue, Assistant Director-General for Africa of the Food and Agriculture Organization (FAO), Abebe Haile Gabriel explained the need for deeper investments in the sector.
“Private investment in the Agric value chain is very important – the more reason why we are partaking of the seminar to build a deeper relationship in the sector.
Deputy Trade Minister, Carlos Ahenkorah believes the advent of the Africa Continental Free Trade Agreement Area will propel growth in the Agric sector. With 17 per cent intra-Africa trade in 2017 compared with 68 per cent in Europe and 59 per cent in Asia, Mr Ahenkorah says “agriculture will be the engine of growth for Ghana and other African countries.”
Meanwhile, Partner with the East African chapter of KPMG, George Manu, has lamented the low financing for agriculture by banks. As financial institutions raise concerns over the high risks linked Agriculture, George Manu called on the government to explore a way of sharing risks.
“If the government is facing risks when it comes to bank financing, they must also consider other occupants in the vehicle,” he said.
The Food and Agriculture Organization is a specialized agency of the United Nations that leads international efforts to defeat hunger. To this end, the leadership dialogue will see stakeholders come out with recommendations on sustainable agriculture investments
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Anlo Dukor celebrates grand durbar of Anlo Hogbetsotso Za
11 mins -
Election 2024: Akufo-Addo pledges to respect Ghanaian will
27 mins -
EPL: Antoine Semenyo stars as Bournemouth defeat Manchester City
1 hour -
Watch CCTV footage of dramatic Adabraka daylight robbery
1 hour -
EPL: Liverpool come fron behind to beat Brighton
2 hours -
EPL: Jordan Ayew late goal salvages draw for Leicester against Ipswich
2 hours -
ESCO VOLTA holds meeting to strengthen cross-border cooperation in security, development
2 hours -
Kufuor Scholar champions Agricultural Innovation through Fidelity GreenTech Challenge
2 hours -
EPL: Isak scores at home again as Newcastle beat Arsenal
2 hours -
I’m proud that despite all the challenges, we have maintained Free SHS – Akufo Addo
5 hours -
Alan’s running mate, KOD says GRASP will revolutionize care for the Elderly in rural areas
5 hours -
Election 2024: Alan paints Accra yellow as the crowd marches through the capital with him
6 hours -
Vacant seats: Speaker has not done what would have led to greater peace – Kofi Bentil
6 hours -
Police on manhunt for Adabraka daylight robbers
6 hours -
Lordina Mahama presents medical supplies and equipment to Tishigu Health Center
6 hours