Business News of 2014-06-17

Farmers receive tractors

The Microfinance and Small Loans Centre (MASLOC) has launched an undertaking code named, Tractor Project, at Tumu in the Sissala East District of the Upper West Region.
In total,14 beneficiaries took possession of a tractor each and are expected to finish paying for the tractors in four years.
Each farmer is expected to pay about GH¢2,400 every month for the next 48 months as cost for a tractor.
The Chief Executive Officer of MASLOC, Madam Sedina Tamakloe Attionu, who launched the programme, said because agriculture formed the bedrock of food and national security, her outfit was encouraged to come up with the Tractor Project to lend support to efforts aimed at mechanising agriculture as a means to increase crop yield.
She said agriculture was a major job creation avenue for the youth and, therefore, suggested that the youth should go into farming. She asked the beneficiary farmers to make good use of the tractors to grow their businesses into large scale ventures.
Madam Attionu said it was for a good reason that MASLOC took the initiative to guarantee financial support for farmers through the Tractor Project.
The Deputy Upper West Regional Minister, Mr Abu Kabiebata Kasangbata, said the ability of the MASLOC tractor project to thrive depended on the sincerity and steadfastness that would be shown by the farmers in repaying the cost for the tractors.
“Often when such facilities are extended to persons, they are mistaken for goodwill to political cronies. But that is not the case. It behoves us to take advantage of this facility without compromising on the repayment terms,” he said.
He said the challenges facing local farmers ranged from lack of modern equipment to outdated and poor methods of farming. He said by intervening with such facilities, he hoped farmers would be encouraged to increase agricultural yields to help solve the national quest for food sufficiency and security.
The President of the Sissala East and West Farmers Association, Mr Ahmed Dimah, who was also one of the beneficiaries, said the project would solve the yearly ritual of having to hire tractors from the Ashanti Region to till lands in the Upper West Region.
“Now that we have the equipment here for ourselves, it gives us the advantage of managing our farming activities even better,” he said. He, nonetheless, threw in an appeal for readily available spare parts of the tractors so they could repair them easily in the event of breakdowns.