Posted: Monday 18th August 2014 at 9:30 am

EDAIF Approves GH¢57.1m For 28 Businesses

Dr. Barfour Osei – CEO, EDAIF

Dr. Barfour Osei – CEO, EDAIF



Dr. Barfour Osei – CEO, EDAIF
The Board of the Export Trade, Agricultural and Industrial Development Fund (EDAIF) in June and July, this year, approved GH¢57.1 million in grants and credit for 28 beneficiaries.

These comprise 15 smallholder cooperatives and associations, eight companies and five public institutions.

A grant facility of GH¢48.5 million was approved in support of government’s initiatives and interventions in different sectors of the economy.

Major among these was an approval of GH¢21.7 million towards expanding local rice production. Also a huge step was taken towards large-scale sheabutter cultivation in Northern Ghana with an approval of GH¢3.43 million.

Other activities that received approval were GH¢6.37 million to support the establishment of the Ghana Commodities Exchange and GH¢2.88 for the cultivation of Kenaf plant by smallholders to serve as raw material for the manufacture of jute sack in Ghana.

Approval was also given for honey production, oil palm processing, fish production and production of organic fertilizer.

A release by EDAIF said its support for small-holder associations and cooperatives demonstrates government’s commitment to enhancing the productive capacity of the Small and Medium-scale Enterprises (SMEs).

Two firms would receive a total of GH¢8.4 million in loans to support the processing of oil palm and the manufacture of footwear.

‘The board and management of EDAIF wish to encourage smallholder Ghanaian cooperatives, associations businesses to contact the organization for further information,’ it emphasized.

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