Take the Risk and Support Agriculture - John Dumelo Urges Financial Institutions

By Joylinda Laryea / June 19, 2025

Deputy Minister of Agriculture, John Dumelo, has made a passionate appeal to financial institutions to take bold steps in supporting Ghana’s agricultural sector by offering low-interest loans to farmers and agribusiness stakeholders.

Speaking at a stakeholder engagement forum on Thursday, Dumelo acknowledged the high risks associated with agricultural financing but emphasized that without affordable credit, the sector cannot achieve its full potential.

“Funding agriculture is very challenging, so I urge financial institutions to take risks, offering low-interest loans to support stakeholders,” Dumelo stated. “We must prioritize food security, and that begins with empowering the very people who produce our food.”

He noted that many farmers and agripreneurs struggle to access credit due to high-interest rates and stringent lending conditions, which discourages innovation and expansion in the sector.

Dumelo reiterated the government’s commitment to transforming agriculture into a more lucrative and sustainable venture, but stressed that this vision cannot be realized without strong private sector collaboration, particularly from banks and microfinance institutions.

Industry experts and farmer-based organizations at the event welcomed the call, urging the government to create policies that incentivize banks to invest in agriculture, including guarantees, risk-sharing schemes, and tax incentives.

The call comes at a time when the country is grappling with rising food prices and the need to boost local production to reduce import dependence.