Government is to establish a GH¢400-million fund towards agriculture financing and crop insurance schemes, Vice President, Dr Mahamudu Bawumia, has revealed.
The Akufo-Addo government also intends to support the development of agri-business start-ups through grants and provide specific technical assistance and tax incentives to support agro-processing, packaging and market access to provide a boost to Ghana’s agriculture sector.
As well, government intends to abolish duties on some agricultural produce processing equipment and machinery, launch a pension fund for cocoa farmers, develop modern storage facilities through the “One-District, One Warehouse” programme and open up key food basket zones through road construction and irrigation projects.
Speaking at the opening ceremony of an 8-day agricultural show leading up to the 33rd National Farmers’ Day, the vice president said these measures, which are stated in the 2018 Budget, form part of the Akufo-Addo government’s programme to make agriculture and agri-business a major part of Ghana’s economy and provide jobs for the youth.
“President Akufo-Addo has a vision to modernise and transform agriculture in order to expand the opportunities for job creation and to provide the basis for agro-processing industries.
The vision is the outcome of a careful assessment of the fundamental capacity of the Ghanaian economy and in line with our economic history. It is a history that tells us that massive and sustained investment in agriculture is the surest pathway to accelerated economic development.
Insurance
…with Kofi Owusu Tawiah