Ghana’s effort at increasing local poultry production has received significant boost with the launch of a credit facility for those engaged in poultry farming.
Under it, the farmer would receive supplies from the input dealer, present the invoice to the bank for the money involved to be paid directly to the supplier by the bank.
It has been dubbed “Golden poultry hire purchase loan” and it is a partnership between Golden Pride Savings and Loans, Jokas Farms, Holland Akokor and the poultry farmers.
The facility was arranged under the Ghana Poultry Project (GPP) – seeking to substantially raise domestic production and processing of poultry meat and eggs through improved access to inputs and finance.
Mr. Malcolm Adomako Brimpong, Financial Specialist of GPP, said things had be so structured that the risk of funds diversion by the farmer would be minimal.
He added that there was also flexibility in the payment for inputs purchased by the poultry farmers.
He mentioned some of the inputs to be procured under the facility as poultry feed, soybeans, concentrates, wheat bran, water storage tanks, fish meal and drinkers.
He called for all the parties to ensure that they played it fair to make the arrangement a win-win for everybody – to achieve the intended outcome.
Dr. Robbert Aidoo of the Department of Agricultural Economics, Agribusiness and Extension, Kwame Nkrumah University of Science and Technology, applauded the GPP for the initiative.
He said it was a right step and a welcomed relief, considering the fact that funding had been a major challenge, the nation’s poultry industry had been struggling with.
He noted that many financial institutions were disinterested in granting loans to operators in the sector because of the high risk and reminded the farmers to use the opportunity to prove a point – make a strong case.