Business News of Wednesday, 11 October 2017
Country Manager for Africa Agriculture Development Company (AgDevCo), Barbara Ghansah says banks need the help of specialised institutions to provide customised products for agricultural businesses as they can’t do it on their own.
She said these specialised institutions which better have a better understanding of the needs of the sector can better develop financing products for agribusinesses.
Speaking at the 20th MTN Business World Executive Breakfast Meeting, Barbara Ghansah said, “we need institutions that themselves have a very clear understanding of the dynamics, the opportunities and challenges of agricultural businesses. That is the only way we can come up with the right type of financing products to make sure that the sector’s needs are very well met”.
She said a combination of finance from both the private and public sectors are needed to make this successful.
Barbara Ghansah also urged investors to give their clients the needed opportunity to present their projects to them and also demonstrate how effective it is.
“No smart investor makes fun of any client. A project might not look good to you today but some years down the line it will turn out to be exactly what you’re looking for so you always need to listen,” she said.