The Queen of the Netherlands, Máxima Zorreguieta Cerruti, has emphasised the need for financial institutions and insurance companies to develop innovative products tailored to the needs of farmers, particularly in agricultural financing, savings and insurance.
She said mobilising long-term savings, including pension funds, would enable banks to provide sustainable financing for productive investments in agriculture and other sectors of the economy.
Queen Máxima, who is in the country in her capacity as the United Nations General Secretary’s Special Advocate, made the remarks when she called on the Asantehene, Otumfuo Osei Tutu II, at the Manhyia Palace in Kumasi last Wednesday, as part of her working visit to Ghana.
Courtesy call
The discussion highlighted the importance of weather insurance and other risk-protection mechanisms to encourage investment in agriculture and protect farmers against climate-related losses.
Other issues discussed included agricultural financing, farmers’ savings, insurance, pension investments and the need to strengthen Ghana’s agricultural value chain.
The meeting also provided an opportunity for Queen Máxima and the Asantehene to strengthen their longstanding cordial relationship, with their exchanges touching on family, previous visits and personal connections.
During the interaction, Queen Máxima commended the Asantehene for his efforts to promote unity and maintain harmony within the traditional area.
Government’s support
Queen Máxima expressed concern about the growing availability of digital loans at very high interest rates, warning that farmers and other vulnerable borrowers needed better and more affordable credit alternatives.
She stressed the need for government commitment to policies and structures that would encourage investment in agriculture, including the possible establishment of a guarantee fund to reduce lending risks and improve farmers’ access to credit.
She acknowledged Ghana’s progress in financial inclusion, particularly the widespread use of mobile phones and digital financial accounts, describing these as important foundations for expanding access to financial services.
Asantehene’s contribution
The Asantehene pledged his continued support for initiatives aimed at improving the livelihoods of farmers and strengthening the agricultural sector.
Through his traditional leadership and development-oriented interventions, Otumfuo Osei Tutu II has continued to promote peace, cooperation and community development, which are essential to creating an enabling environment for agricultural investment.
He emphasised the importance of partnerships among traditional authorities, government and financial institutions in addressing the challenges confronting farmers and ensuring that they have access to the resources and opportunities needed to improve productivity and enhance their economic well-being.
