• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID ) autographed €40 Million framework consensus with the ODDO BHF Amtiengesellschaft
    Ghana Signs Trade Partnership Agreement with the United Kingdom
    Malawi ‘s Betchani Tchereni advises the Administration of Malawi to decrease tax Rates thus the sweeping smuggling of Merchandises
    Rwanda Started Trading Coffee online for the Global Market
    Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance
    Students of the University Management Technology exhorted to make Sierra Leone proud, Sierra Leone’s Minister of Information and Communications – Mohamed Rahman Swaray divulged
    African Energy Chamber Commits to Facilitate Capital Raising for Energy Projects In Africa
    Liberia’s Metieh Glassco – the Director General of Liberia’s Fisheries and Aquaculture Authority (NaFAA) to uphold the 2012 Cape Town consensus
    MDXi Embraces Energy Efficiency and Environmental Sustainability
    South Africa’s Maite Nkoana-Mashabane yelled for Women’s representatives in the enactment of the African Continental Free Trade Area (AfCFTA)

    Ghana, Agricultural Development Bank Partners Key Stakeholders in GH¢500m to Support Poultry Production

    Posted On 24 May 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 11

    By Richard Adorsu-

    Ghana ADB
    Photo Credit: Twitter

    NEW AFRICA BUSINESS NEWS (NABN) Accra- Ghana, Agricultural Development Bank (ADB) has set aside GH¢ 500 million to support the poultry industry in Ghana. 

    In partnership with the Ministry of Food and Agriculture (MoFA), the Bank of Ghana (BoG), the Ghana Incentive-based Risk Sharing System for Agricultural Lending (GIRSAL) and the Out-grower and Value Chain Fund (OVCF),the programme is meant to end the country’s dependence on imported poultry products and create jobs for the youth.

    Under the initiative, the ADB will give soft loans to the tune of GH¢ 500million to businesses in the poultry value chain to help de-risk their operations, increase chicken production and cut out the imports.

    The first tranche of the facility, amounting to GH¢23 million, has been approved by ADB’s Board and is now ready to be disbursed to six businesses in the Bono Region.

    The Managing Director of ADB, Dr. John Kofi Mensah, explained that the initiative was the bank’s support to the government’s Broiler Revitalization Programme, aimed at increasing domestic production of chicken.

    Dr. Mensah said the amount was to be invested between 2020 and 2022 in line with the bank’s strategic plan.

    The Ministry of Food and Agriculture (MoFA) is also to provide technical support to the beneficiary businesses under the initiative.

    Dr. Mensah described the programme as “a big revival of the poultry industry” that would help spur growth in related sectors, including maize and millet production, provide low cost but quality chicken to hotels and other hospitality sector operators and create thousands of jobs.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    He said the initiative would target businesses that engaged in the production of poultry feed, the rearing of the birds, the processing of the meat and the marketing of the chicken to ensure that the entire value was properly funded to help remove the bottlenecks.

    With the approval of the first tranche of the facility, the beneficiary businesses would be given between GH¢1.5 million and GH¢9 million to either revamp their businesses or start new ones with the ultimate objective of increasing domestic production of poultry production.

    “What is happening is a hatchery will produce, we will get the day-old chicks that will be made available to the selected institutions that will rear them.

    “There is another company that will produce the feed for the day-old chicks and the broilers and then it goes to the processor before it moves to the company that will market them,” he said.

    He said the funding would mainly target existing businesses with experience in the sector.

    National consumption of poultry currently exceeds domestic production by more than 340,000 tones, according to the MoFA.

    Dr. Mensah stated that estimates showed that businesses which would benefit from the facility would be empowered to create additional 50 jobs in the initial stages, with the possibility of scaling it up in the coming months.

    In terms of impact on the broiler production per company, he said the poultry producers should be able to double their capacities after receiving the support.

    “If you were producing about 10,000 birds per month, you should be able to produce 100,000 birds per week after benefiting from this support,” he said.

    He explained that the “exceptionally low-interest rate” on the funds was made possible by the partnership with the GIRSAL and the OVCF, which, he said were absorbing more than 75 per cent of the risks associated with lending to businesses in the poultry space.

    He was optimistic that the low-interest rates would help reduce the cost of production of the companies to be supported and put them in a position to be able to sell the final product, the chicken at competitive rates.

    Estimates showed that the final price could be lower than the price of the imported products, thereby making it possible for consumers to switch from the imported poultry to the domestically produced birds.

    He said the assistance from the MoFA would ensure that the chicken to be produced meet all the required standards and was also of best quality to help outcompete the imported products.

     

     

     

    Invest in Modern Africa
    Africa Fastest Growing Continent. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
    Accelerating Intra-African Trade and Boosting Africa’s Trading Position in the Global Market by Strengthening Africa’s Common Voice and Policy Space in Global Trade Negotiations. For More Information Contact: African Union Headquarters, P.O. Box 3243, Roosvelt Street W21K19, Addis Ababa  Ethiopia, Tel: +251 11 551 77 00  Fax: +251 11 551 78 44.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 100 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com  .Africa President of the year will be announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    HELP FIGHT CLIMATE CHANGE
     United Nations Environment Programme (UNEP) Leading Global Environmental Authority that Sets the Global Environmental Agenda, Promotes Coherent Implementation of the Environmental Dimension of Sustainable Development within the United Nations System, and Serves as an Authoritative Advocate for the Global Environment.  Visit:  www.unenvironment.org  

     

    The Global International Company
    International Business Consultant Company, Specialize With Companies Want To Do Business or Doing Business In Africa & United States. Contact:  info@theglobalinternational.com 

     

    NEW AFRICA BUSINESS NEWS
     ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER.    INFO@NEWAFRICABUSINESSNEWS.COM 

     

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

     

    Current Outbreak of Coronavirus (COVID-19) Disease- Coronavirus advisory information, World Health Organization & United States, Centers for Disease Control and Prevention

    Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.

    Coronaviruses are zoonotic, meaning they are transmitted between animals and people.  Detailed investigations found that SARS-CoV was transmitted from civet cats to humans and MERS-CoV from dromedary camels to humans. Several known coronaviruses are circulating in animals that have not yet infected humans.

    Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.

    Standard recommendations to prevent infection spread include regular hand washing, covering mouth and nose when coughing and sneezing, thoroughly cooking meat and eggs. Avoid close contact with anyone showing symptoms of respiratory illness such as coughing and sneezing. Source- WHO

    Websitewho.int/emergencies
    Coronavirus Q&A, World Health Organization
    Websitewho.int/news-room
    Coronavirus condition overview, World Health Organization
    Websitewho.int/health-topics
    United States, Centers for Disease Control and Prevention
    cdc.gov/coronavirus/2019-ncov 

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Tanzania’s Stanbic Bank Bestows Deficit Solace to over 265 Customers

    Next Story

    Athi River Mining Stares at Expunging off its Rwanda and South Africa Links

    11 Comments

    1. samuel May 24, 2020 at 4:18 am Reply

      Good job government of Ghana. Time to feed ourselves. Proud to be Africa. Thank you NEW AFRICA BUSINESS NEWS for reporting. Accra Ghana, Samuel.

      • New Africa Business News, Staff Correspondent May 24, 2020 at 4:43 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Jamason May 24, 2020 at 4:29 am Reply

      Thank you new Africa business news, I like the detail reporting. Kigali Rwanda, Paul.

      • New Africa Business News, Staff Correspondent May 24, 2020 at 4:44 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. New Africa Business News, Staff Correspondent May 24, 2020 at 4:47 am Reply

      Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. hamza May 24, 2020 at 4:50 am Reply

      Thank you for your timely reports. Like to thank you very much. Hamza! Sydney, Australia!

      • New Africa Business News, Staff Correspondent May 24, 2020 at 5:01 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Rass May 24, 2020 at 4:54 am Reply

      Love NABN great newspaper. Rass, Windhoek NAMIBIA!

      • New Africa Business News, Staff Correspondent May 24, 2020 at 4:55 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Richard May 24, 2020 at 5:49 am Reply

      Thank you for reporting. I love this media. Now I can rely on an online newspaper that I really like. Ansu. Oslo Norway

      • New Africa Business News, Staff Correspondent May 24, 2020 at 5:50 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID ) autographed €40 Million framework consensus with the ODDO BHF Amtiengesellschaft

    Posted On 06 Mar 2021

    Ghana Signs Trade Partnership Agreement with the United Kingdom

    Posted On 05 Mar 2021

    Malawi ‘s Betchani Tchereni advises the Administration of Malawi to decrease tax Rates thus the sweeping smuggling of Merchandises

    Posted On 04 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    New Africa Business News, Africa President of the Year 2020-2021 Goes to Tanzania's John Pombe Joseph Magufuli

    Posted On 01 Jan 2021

    New Africa Business News, REPORTER of the Year 2020-2021, Goes to Richard Adorsu

    Posted On 08 Feb 2021

    Thanks for reading, Africa’s fastest...

    Posted On 06 Mar 2021

    Thank you for the report. This ECOWAS...

    Posted On 06 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 06 Mar 2021

    Facebook

    Latest Posts

    The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID ) autographed €40 Million framework consensus with the ODDO BHF Amtiengesellschaft

    Ghana Signs Trade Partnership Agreement with the United Kingdom

    Malawi ‘s Betchani Tchereni advises the Administration of Malawi to decrease tax Rates thus the sweeping smuggling of Merchandises

    Recent Posts

    • The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID ) autographed €40 Million framework consensus with the ODDO BHF Amtiengesellschaft
    • Ghana Signs Trade Partnership Agreement with the United Kingdom
    • Malawi ‘s Betchani Tchereni advises the Administration of Malawi to decrease tax Rates thus the sweeping smuggling of Merchandises
    • Rwanda Started Trading Coffee online for the Global Market
    • Egypt to commence Enrollment of Millions of Fizgig Staffers for the Government Insurance

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.