President John Dramani Mahama reiterated the necessity of offering agricultural financing in Ghana at single-digit interest rates to ensure affordable credit, boost food production, and safeguard farmers from debilitating debt.
He made the remarks while speaking at the 41st National Farmers’ Day Celebration in Ho on Friday, December 5, 2025.
The President lamented that exorbitant interest loans pose a significant obstacle to farmers, resulting in many working to repay debts rather than generating income.
He further asserted that farmers borrowing at prohibitive rates often relinquish substantial profits to loan repayments, hindering their capacity to expand, invest in modern tools, or ensure stable income for their families.
“We must provide credit at single-digit rates so our farmers can grow to feed Ghana,” he stressed.
“Farmers should not be taking loans only to end up using all their profits to repay the banks.”
He added that improved access to affordable financing would enhance productivity, strengthen food security, and encourage more young people to enter the agricultural sector.
Meanwhile, he has assured that the government will support farmers through policies that reduce production costs, expand irrigation and mechanisation, improve market access, and modernise the agricultural value chain.
By: Rainbowradioonline.com/Ghana
