IFC expands agricultural financing in Ghana

The International Finance Corporation (IFC) has entered into two distinct partnerships in Ghana to bolster agricultural financing and support smallholder farmers.

In collaboration with Absa Bank Ghana and the AgTech company Complete Farmer, the IFC aims to expand credit access within the cocoa sector. The partnership with Absa Bank Ghana will provide financing to Licensed Buying Companies to purchase traceable cocoa, a move intended to secure market access for over 139,000 smallholder farmers. This initiative, supported by the Global Agriculture and Food Security Program (GAFSP), also promotes sustainable farming practices aligned with the Paris Agreement.

Additionally, the IFC is partnering with Complete Farmer to utilize its digital platform to connect farmers with financial institutions and service providers. This collaboration seeks to support 240,000 farmers by facilitating improved access to finance by 2030.