The USAID-supported Feed the Future Ghana Mobilizing Finance in Agriculture (MFA) Activity as of February 2023 had facilitated investments to the tune of $192.9 million into the agribusiness industry in Ghana.
The investments benefited 25,408 agribusinesses of which 54 per cent are female-led enterprises. The beneficiary agribusinesses operate in the value chains of maize, soy, groundnut, cowpea, mango, cashew, and shea.
In addition, the US government through the MFA Activity has also released a grant of $2.77 million to over 29,000 smallholder farmers and rural enterprises.
The grant was released in 2022 under the implementation of MFA’s COVID-19 Relief and Resilience Challenge Fund to help mitigate the negative impacts of the pandemic and make them more resilient against possible future shocks.
The Chief of Party, Feed the Future Ghana Mobilizing Finance in Agriculture Activity, Dr. Victor Antwi, in a press release said, “Agriculture is paramount in driving Ghana’s sustainable economic growth and journey to self-reliance. The contribution of women who constitute more than half of Ghana’s population is critical.”
The release highlighted a breakfast meeting and mini fair for female-led agribusinesses in Tamale in Northern Region to commemorate the 2023 International Women’s Day celebration.
The event was organized by MFA in collaboration with the Ghana Resilience in Northern Ghana (RING II) Activity, Policy LINK and Market Systems and Resilience (MSR) Activity. The theme for this year’s celebration was “DigitALL: Innovation and technology for gender equity.”
The event showcased the important role and contribution of female-led/owned agribusiness in the Feed the Future target value chains of maize, soy, groundnut, cowpea, mango, cashew, and shea to food security, and inclusive economic growth in Ghana. It was attended by over 150 stakeholders in the agricultural sector including representatives of USAID, government and non-governmental organizations, women’s groups, trade associations, transaction advisors and financial institutions.
As part of the celebration, a women’s group and two MFA partner financial institutions were recognized for supporting women to realize their potential and contribute towards Ghana’s agriculture sector. Kusanaba Women’s Group was recognized for empowering over 1,200 women in the Upper East Region to process shea butter to mitigate the negative effects of the COVID-19 pandemic on their livelihoods; Bawku East Small Scale Farmers Association (BESSFA) Rural Bank for financing the highest number of female-led/owned agribusinesses in the Upper East Region; and Tumu Cooperative Credit Union for disbursing the highest value of financing to female-led/owned agribusinesses in the Upper West Region.
About Feed the Future Ghana MFA Activity
The Feed the Future Ghana Mobilizing Finance in Agriculture (MFA) Activity is a USAID activity that will improve access to finance for farmers and agribusinesses in Ghana. The Activity enables transaction advisors to support agribusinesses to secure loans and investment. MFA also assists diverse financial institutions to expand financing of farmers and agribusinesses, so that enterprises can purchase agricultural inputs (such as seeds and fertilizers), invest in processing, expand production, and scale operations.
From 2020 to 2024, MFA is to help 81,493 enterprises access $261 million in finance, leading to $500 million in new sales. MFA is also supporting Ghana’s agricultural financing system to mitigate the negative impacts of the ongoing COVID-19 pandemic on farmers and agribusinesses.