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Increasing lending support for agriculture sector: GIRSAL honours 11 financial institutions, individuals

BY: Justice Agbenorsi
Kwesi Korboe (3rd right), Chief Executive Officer of GIRSAL, presenting the award to Julian Opuni (4th right), the Managing Director of Fidelity Bank

The Ghana Incentive-based Risk Sharing System for Agricultural Lending Project (GIRSAL), has awarded 11 financial institutions and individuals for their efforts in increasing lending to the agriculture sector.

Specifically, the awardees were honoured for supporting the agriculture sector through GIRSAL’s core programmes – Credit Risk Guarantee Scheme, and Technical Assistance Facility for 2022.

The awardees are Fidelity Bank Limited, dominated with five awards under five different categories.

They are, the Highest number of GIRSAL guaranteed agricultural credit 2022; best quality agricultural credit guarantee application 2022; Most responsive partner financial institution 2022; best overall partner financial institution 2022 and the highest staff participation in GIRSAL’s Agriculture and agribusiness finance training programme 2022.

The Agricultural Development Bank and Advans Savings and Loans won the highest value of GIRSAL guaranteed agricultural credit and non-bank partner financial institution with the highest value of credit guarantee application respectively.

Ricky Aboagye Poku won the best training facilitator (agribusiness courses) of GIRSAL’s agric & agribusiness finance training programme while Eyram Atsu won the best training facilitator (finance courses) of GIRSAL’s agriculture agribusiness finance training programme

Kingsley Adofo Addo from Ecobank won theRelationship Manager with the Highest Value of Credit Guarantee Application award .while Alhaji Ali Katu won the best guest training facilitator of GIRSAL’s agriculture and agribusiness finance training programme for the year 2022.

Rationale

The Chief Executive Officer of GIRSAL, Kwesi Korboe, explained that the recognition was to encourage more banks to give lending support to the agriculture sector to help firms within the sector grow together.

He noted that banks that were hitherto engaged in supporting agribusiness had come on board as a result of initiatives rolled out by his outfit.

He said initiatives were being rolled out to boost supply of agriculture products to make the sector more attractive.

He added that the implementation of financial subsidy projects, ensuring a flexible regulatory environment, and initiatives geared towards attracting more investment into the country would be prioritised in 2023.

Gratitude

The Managing Director of Fidelity Bank, Julian Opuni, expressed gratitude to GIRSAL for its impact in the agricultural sector.

He added that sweeping five awards bore testimony of the fact that the bank valued its commitment and relationship with the general public adding, “This will be an impetus for us to do more”.

Fidelity bank, he said, was primarily a Ghanaian bank and it cared about what matters to the populace, hence agriculture, which was one of the greatest sectors Ghanaians cared for, would remain a priority area for the bank.