Stanbic Bank Ghana, in keeping with its longstanding tradition of supporting the development of Ghana’s agricultural sector, has handed over a Massey Ferguson MF 375 tractor to the Ministry of Food and Agriculture (MoFA). It is to support this year’s National Farmer’s Day celebration, which comes off on December 2 in the Eastern Regional capital of Koforidua. The tractor, which will be presented to the Second Runner-Up is a continuation of Stanbic Bank’s commitment to the National Farmer’s Day for the past 15 years.
Speaking at a handing over ceremony in Koforidua, Kojo Larbi, Manager for Communications at Stanbic Bank Ghana, said Ghana’s agriculture sector holds the key in improving the country’s economy. “Ghana’s economy is largely dependent on agriculture with a significant part of our national GDP coming from the sector. Thus, improvement in the sector is critical for economic sustainability. In a year when our national forex situation is dire, enhanced agriculture viability seems the way forward to earn more,” he said.
He added that “By helping to add value to the agric production process, a lot of opportunities would be created for economic growth. It is for this reason that for the past 15 years, Stanbic Bank has been part of this national celebration of excellence in agriculture. Ghana is our home and we drive her growth with innovative and best in class solutions and what better way to do this than helping turn the agriculture sector into a bigger cash cow for the country”.
The tractor was received by the Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto. The National Farmers Day is commemorated each year to honour Ghana’s Farmers and Fisherfolk for their labour and tireless commitment to feeding the nation’s ever-growing population as well as contributing to Ghana’s foreign exchange earnings. The climax of this year’s celebration, which is the 38th edition, will be held on Friday December 2, 2022 at the Jubilee Park in Koforidua on the theme “Accelerating Agriculture Development through Value Addition”.
Over the past 15 years, Stanbic Bank Ghana, through its agricultural proposition, has been working to improve the agriculture sector across selected agribusiness value chains. With a deep understanding of the agribusiness value chain, the bank’s knowledge-based approach is aided by the deployment of smart digital solutions to scale up the sector. Beyond this, the bank also leverages on the over 150 years’ experience of the Standard Bank Group, its parent organization, in agriculture funding to assist in the rollout of enhanced agriculture services.
The bank also has support systems that augment the work of private extension in agriculture enterprise development. Stanbic Bank Ghana, through its agriculture proposition, regards itself not only as a financier but also as an integral contributor to the development and transformation of the agricultural sector.