Absa Bank Ghana bags 4 agri-financing awards

Absa Bank Ghana has been rewarded by Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL) for its outstanding support to the agricultural sector. 

Absa Bank was adjudged the overall winner of GIRSAL Partner Financial Institution Excellence Awards 2023 in four categories; the Highest Total Number of GIRSAL Guaranteed Agricultural Credit; the Highest Total Value of GIRSAL Guaranteed Agricultural Credit; the Best Quality Agricultural Credit Guarantee Applications; and the Best Overall Partner Financial Institution of the Year 2023.

A news release from the bank and copied to the Daily Graphic said: “The awards recognised Absa’s commitment to supporting and growing the agricultural sector through lending and capacity building to agribusinesses along the entire value chain. 

“These include processors, aggregators, input dealers and smallholder farmers working as out-growers for agribusiness.”

It said the awards were based on a rigorous assessment of the institutions' performance in areas such as the volume and value of agricultural loans provided, the quality of loan applications and their participation in GIRSAL's Technical Assistance and Advisory services.

The Executive Director for Retail & Business Banking at Absa Bank Ghana, Kobla Nyaletey, said; “We are truly honoured to be recognised by GIRSAL for our commitment to supporting the agricultural sector in Ghana. These awards are a testament to the hard work and dedication of our team, who are passionate about making a difference in the lives of Ghanaian farmers.” 

“Our commitment to the growth of the sector is absolute. Agriculture is essential to Ghana’s economic development and the high-risk challenges associated with the sector motivate us to continuously find pragmatic innovations, such as the partnership with GIRSAL, to improve access to funding for the sector, because we see opportunities in every farmer’s story,” he added.