By Emmanuel AKOMEA
Some private sector actors in the agriculture industry have received specialised training on agricultural risk management in a Capacity Development Workshop organised by Platform for Agricultural Risk Management (PARM).
The three-day workshop is the first of its kind exclusively for the private sector, aimed to equip participants with the tools and knowledge needed to manage risks associated with agricultural activities effectively.
In an interview with Capacity Development Specialist-PARM, Francesca Nugnes, she expressed enthusiasm for the initiative, stating: “First of all, we are very happy to work in Ghana and have this opportunity. It is the first time that we have organised a Capacity Development Workshop exclusively for the private sector.
“Agriculture risk management is valuable for the private sector because it enables effective planning and resource allocation. By proactively identifying and addressing risks associated with their investments in agricultural activities, private sector enterprises can strategically allocate resources and make informed decisions to enhance the resilience and success of their operations.”
The workshop’s objective was to provide private sector enterprises with a better understanding of agricultural risk, enabling them to effectively manage and allocate resources while mitigating potential investment risks. The organisers emphasised the importance of being aware of and knowing how to manage risks associated with investments in agriculture.
The workshop, conducted in collaboration with the Italian Agency for Cooperation and Development, facilitated dialogue among various stakeholders across the agricultural value chain. Participants included producers, processors, buyers and financial experts.
Ms. Nugnes indicated that foreign companies from Italy, which are part of the initiative, will not only conduct business but also contribute to the development of a thriving agricultural system in Ghana. She emphasised the importance of exchanging knowledge and learning from local actors in enhancing resilience to climate risk, market risk and unforeseen events.
Chief Executive Officer-Ideal Providence Farms, Georgina Koomson, participated in the workshop and highlighted the importance of understanding and mitigating risks associated with their farming activities. She said by analysing factors such as crop selection, location and adaptation strategies, farmers aim to reduce their vulnerability in unforeseen events like bushfires.
While she expressed concerns about the disconnect between their risk assessment and the understanding of financial institutions, she remains hopeful that increased awareness and collaboration will lead to more effective support mechanisms.
Managing Director-Maphlix Trust Ghana Limited, Dr. Felix M. Kamassah, emphasised the efforts’ significance to shaping agriculture policies and guiding investments in the sector. He noted that by providing tools to assess risks and plan effectively, both individual companies and government agencies can make informed decisions that will lead to more sustainable and profitable outcomes.
The workshop also underscored the importance of educating youth about risks and opportunities in agriculture. By equipping young people with knowledge and tools to navigate challenges of the sector, stakeholders believe they can foster a new generation of informed and resilient farmers who can contribute to the industry’s development.
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