Absa Bank Ghana, in collaboration with Impact Food Hub, has successfully concluded its Agribusiness Launchpad and Accelerator Programme 2.0. This three-day initiative equipped agribusiness entrepreneurs with critical skills, technical knowledge, and insights for sustainable business growth.
The programme addressed a key challenge in Ghana's agricultural sector: transforming raw produce into globally competitive products. It provided participants with practical knowledge, technical skills, and access to vital networks. This support helps entrepreneurs overcome business hurdles and position themselves for long-term success.
This initiative fits into Ghana's broader economic strategy to boost value addition in agriculture. Ghana possesses vast agricultural potential, yet often struggles to process its produce for higher market value. Programmes like this are crucial for economic diversification and job creation, aligning with national development goals.
Edward Nartey Botchway, Managing Director of Absa Bank Ghana, emphasized the need to bridge the gap between agricultural potential and market competitiveness. He stated, “We do not lack the ideas; we do not lack the produce; what we lack is the ability to convert what we have into what the world wants.” He highlighted that funding is most effective when combined with proper business practices and knowledge.
The programme's completion signals a continued focus on strengthening Ghana's agribusiness ecosystem. Decision-makers and financial institutions will closely watch the long-term impact on participant businesses. Increased value addition can boost export earnings and improve food security across the nation.
Participants received training in product development, food processing technologies, and food safety standards. They also learned about Good Manufacturing Practices and Hazard Analysis and Critical Control Points. Regulatory compliance, certification, and financial management were also key components of the curriculum.
Dr. Mavis Owureku-Asare, Founder of Impact Food Hub, explained the programme's design. She said it aimed to help agripreneurs tackle technical and business challenges limiting their growth. The goal was to transform ideas into sustainable businesses ready for long-term expansion.
John Dumelo, Deputy Minister for Food and Agriculture, urged participants to prioritize value addition. He stressed the importance of converting agricultural produce into products with greater market value. Many farmers produce goods but lack the knowledge to market them effectively or add value.
Dr. Zanetor Agyeman-Rawlings, Member of Parliament for Klottey-Korle, called for tailored financial solutions. She asked financial institutions to recognize agribusiness's unique risks. Such solutions would provide entrepreneurs with necessary support and safeguards for resilient businesses.
Absa Bank Ghana also led a session on accessing finance. This session provided insights into funding opportunities and building fundable businesses. It is part of Absa’s ongoing commitment to Ghana’s SME and agribusiness sectors.
Over the past five years, Absa Bank has supported more than 5,000 businesses and individuals. The bank has disbursed over GHS 700 million to Ghana’s agribusiness sector. This financial support complements extensive business development and capacity-building initiatives. These efforts underscore Absa’s role in fostering economic growth and agricultural innovation in Ghana. The sustained investment aims to create a more robust and competitive agribusiness landscape.