Story:m By: Akua Oteng Amponsah
The Deputy Minister of Agriculture, John Dumelo, has launched the ‘Bridge in Agriculture’ programme, a $87m initiative aimed at providing affordable capital and technical support to Small and Medium Enterprises (SMEs) in agriculture and related sectors across Ghana.
The programme, backed by the Mastercard Foundation, seeks to create dignified and fulfilling employment opportunities for young people across Africa.
Speaking at the launch, Mr Dumelo highlighted the significance of the programme in Ghana’s drive for inclusive, technology-driven, and youth-centred agricultural transformation.
He noted that agriculture employs close to 40% of Ghana’s total workforce and supports about 75% of the rural population, but faces challenges such as limited access to finance, climate vulnerabilities, and inadequate infrastructure.
The ‘Bridge in Agriculture’ programme is designed to address these challenges, with $87 million allocated through partner banks to support agribusinesses, particularly those led by women and youth.
Loans will be offered at interest rates not exceeding 7%, accompanied by extensive hands-on capacity building for beneficiaries. The initiative is expected to benefit over 400,000 Ghanaian youth, 70% of whom will be women.
Fanta Fandi, Programme Lead for the Bridge in Agriculture Programme, described the initiative as a flagship programme of the Mastercard Foundation, developed in 2023.
She explained that the Foundation is providing partner banks with 0% interest repayable grants to lend to SMEs at a capped rate of 7%, with embedded guarantees and additional funds to cover higher loan monitoring costs within the agriculture sector.
The programme has already impacted about 86,000 young Ghanaians aged 18 to 35 with new or improved work opportunities. Business development service providers are training participants in vocational and digital skills and connecting them to dignified employment opportunities.
The programme is being implemented through a partnership between the Mastercard Foundation and CrossBoundary Advisory, which leads a consortium of ten partners.
The consortium includes Africa Skills Hub, iBuilders Africa, Peswa, and other strategic partners working to deliver lasting impact in Ghana’s agriculture sector.
