ADVERTISEMENT
  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us
Homebase Tv - Hbtvghana.com
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
Get Started
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
Homebase Tv - Hbtvghana.com
No Result
View All Result
ADVERTISEMENT
ADVERTISEMENT

Stanbic to provide $5.8m support for cassava processing

Stanbic Agric scaled
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on TelegramShare on Whatsapp

Stanbic Bank Ghana is working with its partners within the Agribusiness sector to facilitate a $5.8 million funding for the construction of a cassava/starch processing factory in Jomoro in the Western Region of Ghana.

It is part of the bank’s value addition support for the agricultural sector.

This was revealed by Benedict Kwasi Obeng, Acting Head of Agribusiness, Stanbic Bank, at the Sixth Agricultural Industrialization Conference held in Takoradi and organized by the Torchbearer International Agricultural Science and Technology (TIAST) Group.

Advertisement. Scroll to continue reading.

“As part of our interventions for growth in the sector, we are finalizing a financing support of US$5.8m for a cassava starch processing farm in Jomoro,” he said.

According to Benedict Kwasi Obeng, who is also the Head of Business Development and Origination at the bank, Stanbic’s support for the country’s agricultural sector is another opportunity for the bank to drive the country’s growth.

Advertisement. Scroll to continue reading.
ADVERTISEMENT
ADVERTISEMENT

“For us at Stanbic, this partnership is another opportunity to drive Ghana’s growth and we will work with TIAST to ensure that the markets are properly developed and that our farmers don’t get saddled with low prices that cassava currently brings in. We are rather aiming for prices in the region of what the cocoa crop commands,” he said.

ReadAbout

Parliament’s Committee of the Whole to meet on GETFund, DACF, NHIS

New King for the Gonjas

Government is committed to investing in STEM – MCE

ADVERTISEMENT

He further underscored the need for farmers to organize and position themselves properly to safeguard their interests as farmers.

He noted that “to tap into the export market, we encourage cassava, rice and other crop farmers to be consistent and predictable in the quantities and qualities they make available. As we go into this old but new area, we do not expect to see individual farmers chasing small volumes. For example, we should be able to organize a Ghana cassava exporters group, which will look out for the interest of every cassava farmer. This is equally applicable to other crops.”

“We believe in finding new ways of with such a body, it will be easier to approach the export market with your produce.  The group can then sign a ton per acre contract in US Dollars and this they would work backwards to ensure that each individual farmer reaps the full benefit of trading on the international markets. It is in this light  that the Ghana Export Promotion Authority has approached the partnership to support and drive the initiative for value across the value chain and ultimately impact the Agricultural sector and the economy as a whole,” he added.

Mr. Obeng further noted that Stanbic Bank’s partnership with the TIAST Group reinforces the bank’s credentials as a key partner for China-Africa trade relations.

He said: “The deal further cements Stanbic Bank’s Africa-China Banking Proposition (ACAP) designed to assist clients who engage in international trade with China. Through this proposition, we are able to effectively facilitate the exportation of processed cassava and starch to China and other parts of the world.”

Madam Priscilla Fiati, a Business Development Manager at the TIAST Group, mentioned that the demand for some of the processed end products like cassava starch has gained a huge demand on the international market exceeding its supply which Ghana must benefit by producing for this ready market.

She noted that China alone imports over 3 million of cassava starch every single year worth $30 billion and expressed the hope that Ghana can be part of a value chain “where everything we produce can earn us millions of US dollars annually, help create more jobs and alleviate poverty”.

Source: 3news.com|Ghana

0f6ccc2bd34b021a48650d39076dcc2d?s=150&d=mm&r=g

hbtvghana

See author's posts

ADVERTISEMENT
hbtvghana

hbtvghana

Discover interesting ones too

Business News

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

Massive chaos over Russian 600000 barrels of crude shipped to Ghana The Herald is picking up mixed signals as to...

Read more
by hbtvghana
0 Comments
Business News

Farmers’ Laments!!! Surplus Tubers With No Buyers

Yam Seller

Farmers' Laments!!! Surplus Tubers With No Buyers Farmers at Techiman in the Techiman Municipal district lament the surplus farm produce...

Read more
by hbtvghana
0 Comments
Business News

November 1st presents earliest opportunity for removal of PSRL – NPA

November 1st presents earliest opportunity for removal of PSRL – NPA

The National Petroleum Authority (NPA) says the earliest opportunity for the removal of the Price Stabilisation and Recovery Levies (PRSL)...

Read more
by hbtvghana
0 Comments
Business News

Banks holding in domestic debt falls marginally to ¢52.61bn

Banks holding in domestic debt falls marginally to ¢52.61bn

Banks operating in the country held the biggest share of the country’s total domestic debt as of the end of...

Read more
by hbtvghana
0 Comments
Business News

Bui Power Authority to invest in science and technology oriented female students

Bui Power Authority to invest in science and technology oriented female students

The Chief Executive Officer (CEO) of Bui Power Authority, Samuel Kofi Dzamesi has expressed his outfits resolve to uncover the...

Read more
by hbtvghana
0 Comments
Business News

MoF has biometric data of all public workers, CAGD doesn’t need a Ghana Card – MP

MoF has biometric data of all public workers, CAGD doesn’t need a Ghana Card – MP

The Ministry of Finance (MoF) already has biometric verification for all public sector workers therefore the Controller and Accountant General’s...

Read more
by hbtvghana
0 Comments
Business News

Transport fares to go up before December if… – GPRTU

Transport fares to go up before December if… – GPRTU

The Ghana Private Road Transport Union (GPRTU) says it would soon consider increments in transport fares should the current trend...

Read more
by hbtvghana
0 Comments
Business News

Aflao: Ghana Navy blocks pirate attack on fishing vessel AFKO 805

Aflao: Ghana Navy blocks pirate attack on fishing vessel AFKO 805

Pirates who wanted to attack a Tuna vessel operating in the south of Aflao were prevented by Ghana’s Nay, a...

Read more
by hbtvghana
0 Comments
Business News

IGP meets BoG, Association of Bankers over banking sector security

IGP meets BoG, Association of Bankers over banking sector security

Following attacks on some cash-in-transit operations, the Police Administration is reviewing its strategy on the movement of cash across the...

Read more
by hbtvghana
0 Comments
Business News

No NIA Card, no salary from December 1 – CAGD warns

No NIA Card, no salary from December 1 – CAGD warns

The Controller and Accountant General, Kwasi Kwaning Bosompem, has warned that workers on government payroll without National Identification Authority (NIA)...

Read more
by hbtvghana
0 Comments
Load More
  • Steve Harvey's Jaw-Dropping Revelation: Abandon Preconceptions and Embark on an African Adventure!

    Steve Harvey’s Jaw-Dropping Revelation: Abandon Preconceptions and Embark on an African Adventure!

    65073 shares
    Share 0 Tweet 0
  • Tonto steps down, Funke Akindele loses, Desmond Elliot wins – 7 celebrities in Nigeria’s 2023 election

    0 shares
    Share 0 Tweet 0
  • Shocking Allegations of sabotage against Ghana’s education fund: Akatsi South MP speaks out

    0 shares
    Share 0 Tweet 0
  • Our Babies Are Making Babies – Joyce Bawa Writes On Teenage Pregnancies

    0 shares
    Share 0 Tweet 0
  • DopeNation back with fresh single ‘Clap’

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
ADVERTISEMENT

Follow Homebase Tv

  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us

© 2014 Total Enjoyment & Proper News

No Result
View All Result

© 2014 Total Enjoyment & Proper News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.