Agric sector continues to grow steadily – Terkper

Mr Seth Terkper, the Minister of Finance, said the agriculture sector would continue to grow at an average of six per cent annually, coupled with resource allocation of about 10 per cent in line with its Medium Term Strategic Plan.

He said in view of the policy, the sector had seen an average growth rate of 4.3 per cent over the last six years with the exception of the fisheries sub-sector.

In relation to expenditure, Mr Terkper said the total government expenditure to the sector had consistently increased since 2007 and government was committed to providing support to unleash the full potential of the sector.

The Minister said this in a speech read for him at the Third Annual Ghana Agribusiness Summit in Accra on Tuesday to brainstorm on innovative means of financing agribusinesses in Ghana.

He, therefore, reiterated government’s firm commitment to protecting the investments that came into the country by implementing the fiscal reform agenda aimed at making Ghana open, transparent and business friendly in the sub-region.

The Summit, under the theme: “Expanding the Frontiers of Agricultural Finance in Ghana” was organised by the USAID Financing Ghanaian Agriculture Project (USAID-FinGAP), in collaboration with the ministries of Food and Agriculture and Finance.

USAID-FinGAP is a five- year project starting from 2013 to 2018 with the goal of facilitating finance and investment in the maize, rice and soy supply value chains in the north of Ghana.

It also aims at improving ancillary services so that agribusiness could operate at full capacity and expand levels of food security in the country.

USAID-FinGAP works with three key actors; Financial Institutions, Business Advisory Service Providers and Agribusiness Small-Medium and Large Enterprises in the maize, rice and soy value chains to facilitate financing.