The Bank of Ghana joined the International Finance Corporation (IFC) and Access Bank Ghana Plc in Accra on Thursday to sign a Risk-Sharing Guarantee Scheme aimed at bolstering credit access for the country’s cocoa sector.
Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, underscored the pivotal role of credit guarantee schemes in fostering agriculture-led growth. “This scheme is strategically designed to provide essential working capital to Licensed Buying Companies (LBCs). Their stability safeguards rural livelihoods, strengthens export earnings, and supports exchange rate resilience,” she stated during the signing ceremony.
Mrs. Asante-Asiedu highlighted the scheme’s potential to enhance the financial stability of LBCs, which serve as critical intermediaries in Ghana’s cocoa value chain. By facilitating access to working capital, the initiative aims to ensure consistent procurement and delivery of cocoa, a cornerstone of the national economy.
The deputy governor also praised Access Bank Ghana’s strong financial performance, noting total assets of GHS 19.47 billion. “This reflects market confidence, customer loyalty, and sound risk management,” she said, adding that the Bank’s robust position makes it a credible partner for development finance aligned with national economic priorities.
The agreement marks a collaborative effort to strengthen Ghana’s agricultural sector while supporting broader economic stability.