U.S. Ambassador to Ghana Stephanie S. Sullivan together with the Vice President, Dr Mahamudu Bawumia have launched a new U.S. government food security strategy known as the U.S. Global Food Security Strategy (GFSS) for Ghana.
The GFSS, in its initial stage of implementation according to Ambassador Sullivan, is expected to attract $261 million in private sector financing to boost Ghanaian agribusiness.
Speaking at the virtual launch of the GFSS, Ambassador Sullivan averred the U.S. Global Food Security Strategy for Ghana (GFSS) is a five-year, interagency effort that aims to increase agricultural productivity, improve nutrition, and raise household incomes for millions of Ghana’s agricultural workers.
She described the new programme as being within the framework of the United States and Ghana’s long-standing partnership to improve food security, increase trade and investment flows, and support resilient and inclusive economic growth.
“The U.S. Government reaffirms its commitment to assist Ghanaians to achieve self-reliance by helping businesses reap higher revenues and by strengthening trade between Ghana and the United States. With the ability to access loans at lower affordable rates, micro, small, and medium agricultural enterprises, including women- and youth-owned businesses, will be able to grow their businesses, expand into new markets, create good jobs, and export their goods,” she remarked.
Under the GFSS, the U.S. Agency for International Development (USAID) is committing $19 million to support the initial activity, known as Feed the Future Ghana “Mobilizing Finance in Agriculture” (MFA).
The MFA activity, which will run for four years, seeks to increase access to agricultural finance in select staple and commodity value chains such as maize, groundnuts, shea, soy, mango, cashew, and other high-value export commodities. The initiative will focus on facilitating transactions among buyers and sellers of the commodity crops and promoting exports.
The MFA activity will mobilize investment for Ghana’s agricultural sector to become an engine of sustainable growth, self-reliance, and shared prosperity. It will work to connect financial institutions, business advisory service providers, and agricultural enterprises, providing access to strategic partnerships, technical support, and smart incentives to help financing flow to where it is most needed and help more Ghanaians thrive.
