In a collaborative effort led by the U.S. International Development Finance Corporation (DFC) and the U.S. Agency for International Development (USAID), the United States government has partnered with two prominent Ghanaian financial institutions, namely Absa Bank Ghana and Opportunity International Savings and Loans. The aim of this partnership is to extend $25 million in fresh financing to micro, small, and medium-sized enterprises (MSMEs) operating in Ghana’s agricultural sector.

The partnership seeks to alleviate the challenges faced by MSMEs in accessing financial support by mitigating risks and expanding credit opportunities. Under the agreement, Absa Bank Ghana will provide up to $20 million in lending, while Opportunity International Savings and Loans will offer up to $5 million. The funds will target regions and borrowers, particularly those in northern Ghana, who typically lack access to conventional bank loans.

By combining the expertise and resources of the U.S. government, Absa Bank Ghana, and Opportunity International Savings and Loans, this initiative aims to foster economic growth and development in Ghana’s agricultural sector by facilitating capital flow to MSMEs and enabling them to expand their operations and contribute to the country’s overall economic progress.

“Agriculture is a vital contributor to Ghana’s economy, providing employment, food security, and nutrition,” said USAID/Ghana Mission Director Kimberly Rosen.

“The U.S. government is committed to helping Ghana fully maximize its agricultural potential by supporting the expansion of small businesses in the agriculture sector. 

“These partnerships demonstrate our ongoing commitment to the success of Ghana’s private sector, and economic growth in the country.”