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    Ghana to Invest into Yam Production

    Posted On 05 Aug 2022
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Richard Adorsu-

    Photo Credit: Istock

    NEW AFRICA BUSINESS NEWS (NABN) Accra Ghana- The Ghana Exim Bank has said it will invest $10 million into the exports of yam. This comes after Ghana emerged as the highest exporter of yam within the sub region in 2021.

    To maintain this feat, Chief Executive Officer of the Ghana Exim Bank, Lawrence Agyinsam, explained that, his outfit would support the entire value chain of yam production to boost productivity within the sector.

    Speaking at the Ghana Exim Bank stakeholder consultative forum on yam export he opined that, to fend off competition from other countries, the Exim Bank would have to step in to support the sector for expansion.

    “We were first in 2021 in yam exportation. We really need to prevent competition from our competitors that’s why we have decided to invest such amount to help the growth of the sector”, he said.

    Mr. Agyinsam further called on yam exporters and producers to produce quality yams for foreign markets.

    On the timeline for the release of the funds, he noted that, the funds were ready for disbursement.

    “We are ready with the money. All we want is to see these farmers go through the right processes. Production of quality yam is also necessary”, he stressed.

    West Africa produces the most yams globally, and Nigeria tops the charts with about 67 per cent
    of global yam production, dwarfing Ghana’s 10 per cent.

    Yet, Ghana contributed 94 per cent of the total yams exported from West Africa and 22 per cent of global exports in 2019.

    Exports of yam tubers reached a record-high of $48million last year, according to data from the Ghana Export Promotion Authority (GEPA), making the country the world’s largest exporter of yam.

    Jamaica is Ghana’s closest competitor, ranking second in the export of yam. Its total exports were valued at $39 million in 2021.

    The global yam market is projected to register a compound annual growth rate of 3.5 per cent between 2020 and 2025, said Mordor Intelligence, a market research firm.

     

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    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

    who.int/emergencies
    Coronavirus Q&A, World Health Organization
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    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent
    About the Author
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