AfDB US$20m credit support gives respite for women in Ghana’s agribusiness sector

Dr. Akinwumi Adesina, President, AfDB

The African Development Bank’s (AfDB) Affirmative Finance Action for Women in Africa (AFAWA) programme is supporting women-led farmers’ associations and Micro, Small and Medium Enterprises (SMEs) in Ghana’s agribusiness sector with US$20 million.

The credit facility provided by Green Climate Fund – a fund established to assist developing countries in adaptation and mitigation practices to counter climate change, is aimed at providing concessional resources for beneficiaries as well as financing Climate Resilient Agricultural Practices in Ghana.

The AFAWA Ghana project is designed to provide affordable and innovative financial products and services for women to adopt technologies and practices that will enhance the resilience of agro-ecosystems and agricultural production as well as protecting women and communities against climate risks such as drought and flooding in the Savannah agro-ecological zone of Ghana.

Importantly, financial products and services through the AFAWA program will help women in savannah regions to access solar irrigation systems and modern processing technologies to help improve value addition, productivity and profitability.

This is expected to enable women in the agricultural sector to acquire more advance technologies and practices that will help boost agricultural production.

The President of the Bank, Dr. Akinwumi A. Adesina said the Fund has consistently demonstrated its commitment to work with his outfit to jointly deploy the concessional financial resources needed for climate action in Africa.

The program is also expected to educate women in agro-processing on renewable energy systems, such as off-grid solar and biogas technology. Firewood, charcoal and other biomass-based energy account for more than 90 percent of energy resources women use for agro-processing, contributing to deforestation and carbon emissions.

Instructively, it is estimated that women constitute a chunk of workers in the agricultural sector in developing countries. Thus, supporting them in this regard would largely contribute to boosting agricultural produce.