IFC expands agricultural finance in Ghana through new partnerships

The International Finance Corporation (IFC) has launched two partnerships in Ghana to expand agricultural financing and support smallholder farmers.

Through a partnership with Absa Bank Ghana, the IFC will provide financing to Licensed Buying Companies to purchase traceable cocoa. This initiative, supported by the Global Agriculture and Food Security Program (GAFSP), aims to sustain market access for over 139,000 smallholder farmers while promoting sustainable farming practices aligned with the Paris Agreement.

Additionally, the IFC has provided a US$2.4 million convertible loan to the Ghanaian agritech startup Complete Farmer. This funding, supplemented by US$480,000 in advisory support, is intended to expand input financing and agronomy services across Ghana and Togo. The partnership aims to facilitate financial access for 240,000 farmers by 2030. Complete Farmer utilizes a digital platform to connect farmers with international buyers, such as Aldi and Lidl, and manages aggregation, quality control, and export logistics through multiple fulfillment centers.