Access Bank Ghana has allocated GHS 1 billion to support cocoa licensed buying companies and value chain actors in 2025. This significant financial commitment comes in partnership with the International Finance Corporation (IFC).
This funding aims to strengthen Ghana's vital cocoa sector. The increased budget reflects a strategic effort to boost the nation's agricultural exports. It also supports the broader agricultural sector that employs many Ghanaians.
The investment aligns with Ghana's ongoing focus on agricultural growth and export diversification. Cocoa remains a cornerstone of Ghana's economy, contributing substantially to its foreign exchange earnings. Recent discussions also include plans to sell GHS 1 billion in cocoa bonds later this year.
Pearl Nkrumah, Managing Director of Access Bank Ghana, confirmed the bank's commitment. She stated that support for cocoa purchasing, which began with GHS 100 million five years ago, has grown. This growth aims to boost Ghana's exports and agricultural sector.
The bank is also extending its support to other cash crops. Plans include providing assistance to cashew and shea farmers. This diversification helps strengthen the agricultural base beyond cocoa. This expands opportunities for farmers and rural communities.
Access Bank Ghana maintains an export desk. This desk supports farmers and value chain actors with trade lines. These trade lines enable exporters to access foreign exchange, which is crucial for international trade. The bank also disburses loans to agribusinesses at a single-digit rate of 4% through the Mastercard Foundation. Approximately 40% of these loan beneficiaries are located in the Ashanti Region.
Moving forward, Access Bank Ghana plans to seek additional partners. These partnerships will further support agricultural development. The bank has also pledged to intensify programs fostering the growth of small and medium-sized enterprises (SMEs). These enterprises are critical for job creation and economic resilience.
The bank's initiatives also include environmental sustainability efforts. These focus on waste management, carbon reduction, green building, and energy solutions. Access Bank Ghana aims to achieve net-zero goals by 2027, demonstrating a commitment to responsible banking. These programs complement global efforts towards sustainable development.