Business News of Sunday, 16 December 2018Source: Graphic.com.ghReduce interest rate on agric to single digit - Agribusiness ChamberAbebi Haile-Gabrielle is the Assistant Director at Food and Agriculture Organisation (FAO) AfricaThe high interest rate on credit in the country is a major hindrance to private sector investment in agriculture, the Chief Executive Officer (CEO) of the Ghana Chamber of Agribusiness, Mr Anthony Morrison, has said. According to him, the current interest rate, which ranges from 30 to 42 per cent, is the highest in the sub-region and described the situation as a disincentive to agricultural financing. Key among them is to reduce the interest rate to a single digit as it pertains in other African countries,” he emphasised. According to him, existing policies focused so much on production, compared to marketing, thus contributing to the increasing rate of post-harvest losses suffered by farmers. He called on governments in Africa to commit at least 10 per cent of their budget allocations to agricultural activities.

Source: GhanaWeb December 16, 2018 07:05 UTC