Fidelity Bank Pushes for Stronger Collaboration to Unlock Ghana’s Agric Potential
Director of SME Banking at Fidelity Bank, Mr. Alex Adjei Amponsah, has underscored the need for greater collaboration between financial institutions, agribusinesses, and government to fully harness the potential of Ghana’s agricultural sector and strengthen the country’s economic stability.
Speaking at the 14th Ghana Economic Forum during a panel discussion on the theme “Value Addition for Currency Stability: Transforming Agriculture into an Industrial Powerhouse,” Mr. Amponsah highlighted agriculture’s central role in sustaining livelihoods and stabilising the economy, stressing that Ghana’s dependence on imported food remains economically unsustainable.
“I don’t see why Ghana, with all the opportunities and potential we have, should still be importing food,” he stated. “We produce almost everything and yet export most of it in its raw form for others to process for us. Why can’t we fix this ourselves by expanding our processing capacity?”
Mr. Amponsah attributed the sector’s slow growth partly to the perception of agriculture as a high-risk venture, which discourages lending by financial institutions. He, however, pointed to the Ghana Incentive-Based Risk Sharing System for Agricultural Lending (GIRSAL) initiative implemented in collaboration with local banks as an example of a successful intervention that has enhanced credit flow to the sector.
“Through the GIRSAL effort, we have been able to expose about GH¢1.6 billion to the agric sector, covering activities from primary production to manufacturing. Out of this, about GH¢500 million has already been repaid, with non-performing loans under the scheme remaining very low,” he disclosed.
He emphasised that the solution lies in building technical capacity, improving understanding of the agricultural value chain, and providing tailored financial support to farmers and agribusinesses.
“It’s about capacity, understanding the sector, and guiding farmers and actors to get it right. If we do this, we can unleash the full potential of agriculture, expand production, reduce food imports, and ultimately stabilise the economy and the cedi,” he noted.
Mr. Amponsah reiterated Fidelity Bank’s commitment to deepening partnerships within the agribusiness ecosystem to support sustainable agricultural financing and promote industrial transformation.
