GIRSAL awards outstanding partners increasing lending to agriculture sector

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… Fidelity Bank comes top as Best Overall Partner Financial Institution

The Ghana Incentive-Based Risk-Sharing System for Agricultural Lending Project (GIRSAL) at its end of year Partner Financial Institution and Technical Assistance Awards has recognised outstanding institutions and individuals who played key roles in increasing lending to the agricultural sector for the year under review.

This year’s awards saw three commercial banks, one non-bank financial institution and three training facilitators emerge as winners.

Awards

Fidelity Bank Limited came top as the Best Overall Partner Financial Institution and also won the highest number of GIRSAL Guaranteed Agricultural Credit as the Most Responsive Partner Financial Institution, the Best Quality Agricultural Credit Guarantee Application and the Highest Staff Participation in GIRSAL’s Agric & Agribusiness Finance Training Programme in the Year 2022.

The Agricultural Development Bank (ADB) won the highest value of GIRSAL Guaranteed Agricultural Credit in the Year 2022.

Advans Savings & Loans won the Non-Bank Partner Financial Institution with the Highest Value of Credit Guarantee Application in the Year 2022.

For the individual awards, Mr. Kingsley Adofo Addo of Ecobank won the Relationship Manager with the Highest Value of Credit Guarantee Application in the Year 2022.

Mr. Ricky Aboagye Poku won the Best Training Facilitator (Agribusiness Courses) of GIRSAL’s Agriculture & Agribusiness Finance Training Programme in the Year 2022.

Other winners included Mr. Eyram Atsu who won the Best Training Facilitator (Finance Courses), and Mr. Alhaji Ali Katu, winner of the Best Guest Training Facilitator of GIRSAL’s Agriculture & Agribusiness Finance Training Programme in the Year 2022.

The awardees expressed their appreciation for the recognition and pledged to step-up efforts in promoting and boosting growth of the agriculture sector, which is potentially a huge contributor to the country’s GDP.

“GIRSAL through these awards seeks to acknowledge the contribution of our partners, both institutional and individual, who have demonstrated outstanding efforts in driving the achievement of its goal for increasing lending to the agriculture sector through participation in our core programmes – Credit Risk Guarantee Scheme and our Technical Assistance Facility in the year 2022.

“The GIRSAL End of Year Partner Financial Institution and Technical Assistance Awards is based on GIRSAL,” MD for GIRSAL Mr. Kwesi Korboe has indicated.

He added that given the potential in the Agriculture sector, the gesture is to encourage the winner while beckoning other institutions to join the train toward growing the sector together, and ensuring that it grows through well-structured financing.

Progress

The MD for GIRSAL, Mr. Kwesi Korboe, indicated that this year has witnessed willingness on the part of banks to lend to agribusiness, cutting across the value chain; however, there is hope to see more of their participation in 2023.

“We have also done a lot of work in the area of policy and issued more guarantees this year. So we have seen a trajectory of growth in terms of the value of guarantees we are issuing and the number of agribusinesses we are supporting. We also had an agreement with the Development Bank of Ghana, which we think will be beneficial to the sector,” he added.

Mr. Korboe however holds that to increase gains in the sector, it is necessary to pay attention to policy decisions, so as to ensure efficiency in the sector, attract investors for the value chain and encourage import substitution.

He said his outfit also intends to train directors of banks and other financial institutions who are key policymakers, to whip more interest and raise awareness.

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