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    Italy’s Rural Hack and Ghana’s Agrihouse Foundation Partner to Strengthen Youth in Agribusiness, Innovation, and Technology

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    Italy’s Rural Hack and Ghana’s Agrihouse Foundation Partner to Strengthen Youth in Agribusiness, Innovation, and Technology

    Italy’s Rural Hack and Ghana’s Agrihouse Foundation Partner to Strengthen Youth in Agribusiness, Innovation, and Technology

    Agrihouse Foundation Honours Global Affairs Canada with  Longstanding Development and Program Partner Award

    Agrihouse Foundation Honours Global Affairs Canada with Longstanding Development and Program Partner Award

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    Breaking The Trust Barrier: The Journey Towards True Localization

    Qualiplast Supports 5th Ghana Poultry Day with Strategic Product Donation to Boost Hygiene and Handling as well as showcase “Made in Ghana” plastic packaging for farmers

    Qualiplast Supports 5th Ghana Poultry Day with Strategic Product Donation to Boost Hygiene and Handling as well as showcase “Made in Ghana” plastic packaging for farmers

    Government is  Committed  to Revitalizing  Poultry Sector -Deputy Agric Minister Reaffirms

    Government is Committed to Revitalizing Poultry Sector -Deputy Agric Minister Reaffirms

    Government to Intensify Anti-Galamsey Efforts to Secure Ghana’s Food Future

    Government to Intensify Anti-Galamsey Efforts to Secure Ghana’s Food Future

    Deputy Agric Minister Vows Continued Support for Agrihouse Foundation and Women-Led Agribusinesses

    Deputy Agric Minister Vows Continued Support for Agrihouse Foundation and Women-Led Agribusinesses

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    7th WOFAGRIC Ends Successfully in Central Region, Celebrates Over 1,300 Women and Youth

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    34-Year-Old Makes History as Youngest Winner of Ultimate Gold in the Soil Award

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    Oil palm sector faces sustainability crisis, as climate, market shocks persist

    Oil palm sector faces sustainability crisis, as climate, market shocks persist

    Sub-Saharan African Countries can Grow Enough Grains to Feed its Population by 2050 – New research

    Sub-Saharan African Countries can Grow Enough Grains to Feed its Population by 2050 – New research

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    Ghana and Nebraska Strengthen Agricultural Ties through Future Pathway Students Exchange Talks  

    Ghana donates 40 metric tonnes of cocoa products to Palestine in solidarity gesture

    Ghana donates 40 metric tonnes of cocoa products to Palestine in solidarity gesture

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    Ministry of Food and Agriculture Commits to Strengthening Agribusiness Partnerships with Nebraska

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    Former Nebraska State Senators Engage Ghana’s Parliamentary Committee on Agriculture to Strengthen Agribusiness Ties

    High-value crops of the future: Why native legumes are more than niche crops

    High-value crops of the future: Why native legumes are more than niche crops

    Mahama’s duty waiver on Agro Machinery laudable – GAWU

    Mahama’s duty waiver on Agro Machinery laudable – GAWU

    Government Set to Announce New Cocoa Producer Price Ahead of New Crop Season

    Government Set to Announce New Cocoa Producer Price Ahead of New Crop Season

    • Crops
    • Fertilizer
    • Livestock
    • Machinery
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  • Regional Trends
    Atuabo Gas Plant to undergo scheduled maintenance from August 16–30  

    Atuabo Gas Plant to undergo scheduled maintenance from August 16–30  

    African Youth Leaders to Showcase Agrifood Innovations at International Youth Day Africa Webinar

    African Youth Leaders to Showcase Agrifood Innovations at International Youth Day Africa Webinar

    Plant Protection Agency warns of land encroachment threatening operations

    Plant Protection Agency warns of land encroachment threatening operations

    Gov’t raises cocoa price to GH¢3,228 per bag

    Gov’t raises cocoa price to GH¢3,228 per bag

    Experts urge practical action to turn intra-Africa trade policies into results

    Experts urge practical action to turn intra-Africa trade policies into results

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    Standard Chartered deepens investment in women-led tech startups

    Agrimercarb’s insect protein innovation is helping safeguard aquaculture

    Agrimercarb’s insect protein innovation is helping safeguard aquaculture

    Chamber of Agribusiness donates 15,000 masks to University of Ghana

    Chamber of Agribusiness donates 15,000 masks to University of Ghana

    Cote D’ivoire and Ghana cocoa platforms calls for closer collaboration with stakeholders in the cocoa value chain

    Cote D’ivoire and Ghana cocoa platforms calls for closer collaboration with stakeholders in the cocoa value chain

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    Sub-Saharan African Countries can Grow Enough Grains to Feed its Population by 2050 – New research

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    Innovative Financing Crucial for Africa’s Agrifood Transformation – Report

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    Turning Locust Plagues Into Protein Goldmines — How African Farmers Are Harvesting Insects for Feed and Food

    Millions risk losing access to humanitarian food assistance amid funding slowdown in South Sudan

    Millions risk losing access to humanitarian food assistance amid funding slowdown in South Sudan

    NEW:Coffee industry recovers, exports rise 14% in 2024

    NEW:Coffee industry recovers, exports rise 14% in 2024

    Anchored fish aggregating devices take the guesswork out of fishing

    Anchored fish aggregating devices take the guesswork out of fishing

    Director-General champions innovation and collaboration at 44th Session of the FAO Conference

    Director-General champions innovation and collaboration at 44th Session of the FAO Conference

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    Empowering young Women through youth-led actions: WFF Ghana Chapter Engages 150 female students and beginner agribusiness champions in the Bono Region

    WASCAL, KNUST lead Climate-Smart Agriculture Integration in African University Curricula

    WASCAL, KNUST lead Climate-Smart Agriculture Integration in African University Curricula

    GEPA Impact Hub hosts University of Cape Coast students on Edu tour

    GEPA Impact Hub hosts University of Cape Coast students on Edu tour

    KNUST Researchers uncover Africa’s first smart soil sensor to revolutionize farming

    KNUST Researchers uncover Africa’s first smart soil sensor to revolutionize farming

    All Nations University ventures into agriculture

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    Young Agripreneur Forum Holds Orientation for New Members

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    International Youth Day Celebration: Youth Urged to Lead Agricultural Transformation to help Eradicate Hunger and Poverty

    World Food Forum (WFF) Ghana Chapter Commemorates International Youth Day with Students of Accra Academy S.H.S   

    World Food Forum (WFF) Ghana Chapter Commemorates International Youth Day with Students of Accra Academy S.H.S  

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    FAO Food Price Index edges up in July

    FAO Food Price Index edges up in July

    Chamber of Agribusiness signs MoUs with Danish Embassy 

    Chamber of Agribusiness signs MoUs with Danish Embassy 

    Governing Board of Ghana Shippers’ Authority Inaugurated – Minister Calls for Reduction in Port Transaction Costs

    Governing Board of Ghana Shippers’ Authority Inaugurated – Minister Calls for Reduction in Port Transaction Costs

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    AfCFTA Secretary General urges Cameroonians to join Africa to domesticate the continent’s own market

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    Prices of some imported goods could be reduced in coming weeks – GIFF assures

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    Ghana Shippers’ Authority Secures BoG Directive Against Arbitrary Foreign Exchange Rates of Shipping Lines

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Home Agro-Market Sales and Marketing

High Interest Rates and Inflation Strain Ghana’s Economy

Agriwatch by Agriwatch
January 23, 2025
in Sales and Marketing
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Businesses in Ghana are facing immense challenges due to high interest rates, with the central bank’s policy rate remaining at 27% amidst rising inflation. This has forced many small and medium enterprises (SMEs) to abandon expansion plans or resort to expensive informal lending, hampering economic recovery.

Commercial banks are charging up to 35% on loans, which is suffocating business growth, especially in sectors like manufacturing and agriculture, where profit margins are already narrow. Industry leaders warn that sustained high interest rates are leading to more distressed businesses.

Kwamina Asomaning, Managing Director of ,, stressed that Ghana’s high interest rates are a significant barrier to growth, with inflation being the primary cause. He pointed out that inflation erodes purchasing power, making goods more expensive over time.

Additionally, non-performing loans (NPLs) are at alarming levels—between 24% and 35%—well above the World Bank’s recommended threshold of 10%. This situation is exacerbated by inefficiencies in the court system, which make it difficult for banks to recover collateral.

Government’s Role in Stabilizing the Economy

Asomaning welcomed the finance minister’s target to reduce inflation to 8%, but emphasized that the government must curb excessive spending, which is fueling inflation. He also opposed aggressive borrowing to finance investments, noting that countries in the West African Monetary Union are more stable due to conservative fiscal policies.

He called for fiscal discipline and sustainable economic growth, arguing that Ghana must focus on managing inflation and prioritizing long-term stability over rapid expansion.

Diversification and Growth Opportunities

Looking ahead, Asomaning advocated for economic diversification through sectors like tourism and agriculture. He cited the success of Ghana’s “Year of Return” initiative as an example of how tourism could boost foreign exchange. He also suggested creating support structures for other exportable commodities like cashew, mango, and ginger.

Agriculture and agri-business, according to Asomaning, offer “low-hanging fruits” that could help reduce Ghana’s dependence on cocoa and gold, ultimately fostering a more resilient economy.

Source :Graphiconline.com

Tags: small and medium enterprises (SMEs)Stanbic Bank Ghana
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