Mastercard Foundation, in partnership with CrossBoundary Advisory, has officially launched the BRIDGE- in Agriculture Programme, a transformative initiative aimed at providing affordable capital and technical support for Small and Medium Enterprises (SMEs) in agriculture and related sectors across Ghana.
The BRIDGE-in Agriculture Programme is a strategic breakthrough, with $87 million allocated through partner banks to support agribusinesses, particularly those led by women and youth. Loans under the programme will be offered at interest rates not exceeding 7%, with extensive hands-on capacity building for beneficiaries.
Speaking at the launch on Thursday, May 29, John Dumelo, Deputy Agric Minister, highlighted the importance of the programme in Ghana’s drive for inclusive, technology-driven, and youth-centred agricultural transformation.
He expressed the government’s appreciation to the Mastercard Foundation for its bold vision and commitment to creating dignified and fulfilling employment opportunities for young people across Africa.
“Agriculture employs close to 40% of Ghana’s total workforce and supports about 75% of the rural population,” he stated.
“However, the sector still faces critical challenges including limited access to finance, climate vulnerabilities, inadequate infrastructure, and a slow adoption of modern practices.”
Fanta Conde, Programme Lead for the BRIDGE-in Agriculture Programme, described it as a flagship initiative of the Mastercard Foundation developed in 2023.
She explained that the Foundation is providing partner banks with 0% interest repayable grants to lend to SMEs at a capped rate of 7%, with embedded guarantees and additional funds to cover higher loan monitoring costs within the agriculture sector.
Fanta Conde added that so far, the programme has impacted about 86,000 young Ghanaians aged 18 to 35 with new or improved work opportunities.
Business development service providers are also training participants in vocational and digital skills and connecting them to dignified employment opportunities.
The Programme led by CrossBoundary Advisory, in collaboration with Mastercard Foundation, and delivered by a consortium of organizations, including: Access Bank, Ecobank, First National Bank, Fidelity Bank, Stanbic Bank, and Zenith Bank, business development service firms – Africa Skills Hub and Mind Builders Africa, and Peswa, a technology provider.
