The U.S. Ambassador to Ghana, Stephanie S. Sullivan has launched a new activity under the U.S. Government Food Security Strategy for Ghana. The first activity seeks to attract $261 million in private sector financing to boost Ghanaian agribusiness.
Under the GFSS, USAID is committing $19 million to support the initial activity known as Feed the Future Ghana “Mobilizing Finance in Agriculture” (MFA). The MFA activity, which will run for four years, seeks to increase access to agricultural finance in selected staples. The commodity value chains include maize, groundnuts, shea, soy, mango, cashew, and other high-value export commodities. The initiative will focus on facilitating transactions among buyers and sellers of the commodity crops and promoting exports.
Ambassador Sullivan described this new program within the framework of the United States and Ghana’s long-standing partnership. In her remarks, she said the new program will improve food security, increase trade and investment flows, and support resilient and inclusive economic growth.
“The U.S. Government reaffirms its commitment to assist Ghanaians to achieve self-reliance by helping businesses reap higher revenues and by strengthening trade between Ghana and the United States.
“With the ability to access loans at lower affordable rates, micro, small, and medium agricultural enterprises, including women-and youth-owned businesses will be able to grow their businesses, expand into new markets, create good jobs, and export their goods.”
Stephanie S. Sullivan, U.S Ambassador.
To clarify, the MFA activity will mobilize investment for Ghana’s agricultural sector to become an engine of sustainable growth, self-reliance, and shared prosperity. It will work to connect financial institutions, business advisory service providers, and agricultural enterprises. It will provide access to strategic partnerships, technical support, and smart incentives to help financing flow to where it is most needed and help more Ghanaians thrive.
The U.S. Global Food Security Strategy for Ghana (GFSS)
The U.S. Global Food Security Strategy for Ghana (GFSS) is a five-year, interagency effort that aims to increase agricultural productivity, improve nutrition, and raise household incomes for millions of Ghana’s agricultural workers.
The Ghana Country Plan is informed by performance, impact, and population-based data and analysis of the first phase of Feed the Future; market analysis of the targeted agro-ecological zones and socio-economic factors impacting poverty, nutrition, and resilience; and stakeholder consultations. Key changes to the approach include: reduced size of the zone of influence; greater emphasis on private sector investment and market facilitation; and selection of new value chains to increase resiliency and income.
Specifically, the GFSS Country Plan serves as an overarching framework for integrated food security and nutrition programming. The plan is intended to describe the key drivers of food insecurity, malnutrition and poverty. These key drivers stem from a complex set of underlying conditions that exist at the individual, household, and community level.
The USG Food Security team in Ghana employs a Collaborative, Learning and Adaptation (CLA) approach using real-time information and analysis. They monitor performance and adjust activities to maximize investments, and respond to emerging opportunities and challenges.
The Vice President Mahamudu Bawumia and the Agric Minister, Dr Owusu Afriyie Akoto also attended the virtual launch. Other representatives of financial, agricultural, government, and private sector stakeholders were also present.
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