OPPORTUNITY
INTERNATIONAL Savings and Loans has financed the agricultural sector of the
economy by disbursing over GH¢110 million to 112,757 farmers from 2012 to date,
with impressive recovery rate.
So
far, it has reserved 15% of its loan portfolio to support Agriculture and
Agro-related businesses in Ghana.
Opportunity’s
Agric finance model seeks to support economically active farmers in agriculture
and its related businesses including farming, irrigation, agro-marketing and
processing, agro equipment etc.
The
main crops being supported include Cocoa, Cashew, Root & Tuber, Rice,
Vegetables, Maize, Oil Palm, Plantain, Pineapple, Poultry, Piggery, Livestock
and Soy Bean in 10 out of the 16 regions in Ghana. In addition to financing,
Opportunity continues to provide training to the farmers in Good Agricultural
Practices, Digital Financial Services and other Financial Literacy programmes.
Recently,
it entered into a partnership with Esoko Ghana, to enable farmers receive
weather information and pricing for their farm produce in a timely manner.
Opportunity’s contribution to the agricultural sector of Ghana has been
recognized by receiving the ‘Best Company for promoting Agriculture and
Agribusiness’ at the Sustainability and Social Investment Awards for both 2018
and 2019.
When
the Head of Agribusiness, Isaac Kojo Gyesi, was interviewed, he said, most
financial institutions perceived Agric finance as a high risk, but in his view,
he believed that with a good financial model and commitment by the institution,
the risk could be mitigated to the barest minimum. He is advocating for other
financial institutions to come on board to support farmers as they celebrate
the 35th edition of the National Farmers’ Day.
Opportunity International Savings and Loans (OISL) is a leading savings and loans institution in Ghana and is at the forefront of delivering financial services to help transform the lives of poor people. OISL was licensed by the Bank of Ghana in 2004 and has built a national branch network of 43 outlets with two thirds of the branches in rural locations. It currently serves almost 46,882 borrowers and over 523,871 savers.
