Stanbic Bank pledges continued support for agric sector

SECOND runner-up at the 2024 National Best Farmer Awards, Ransford Kwaku Otopa Atiemoh, has paid a courtesy call on the Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning.

Among other things, the meeting provided a platform to discuss innovative strategies to strengthen Ghana’s agriculture sector through collaboration and enhanced support.

During the engagement, Asomaning commended Mr Atiemoh for his dedication to agriculture and emphasised the need for farmers to evolve their practices to meet modern demands. 

He noted that while agriculture remained a cornerstone of Ghana’s economy, there was a pressing need to diversify beyond traditional crops such as cocoa. 

“Ghana has the potential to position itself as a global leader in the production of other high-demand crops such as cashew, ginger and mangoes.” 

“By diversifying and adopting innovative farming practices, we can reduce the sector’s vulnerabilities and create new opportunities for growth,” he said.

Mr Asomaning also highlighted Stanbic Bank’s role as one of the top three banks in agricultural financing, underscoring the bank’s dedication to supporting farmers and agribusinesses. 

He pointed to the recent upgrade of the National Best Farmer Awards prize from a pick-up truck to a brand-new Massey Ferguson tractor with accessories, sponsored by Stanbic Bank in collaboration with Mechanical Lloyd, as a testament to the bank’s commitment to the sector.

“This upgrade reflects our belief in the transformative power of agriculture and our desire to equip farmers with the tools they need to succeed,” he added.

Aligning farming practices 

The discussion also touched on the importance of aligning farming practices with market demands and environmental conditions. 

Mr Asomaning stressed the need for farmers to adopt consistent and sustainable practices, such as matching seed varieties to soil types and weather conditions, as well as meeting the taste preferences of end markets. He mentioned that “By evolving our practices and embracing innovation, we can create a more resilient and profitable agricultural sector.” 

In response, Mr Atiemoh, who is the founder of Ransboat and Company Ltd, expressed his gratitude to Stanbic Bank for its unwavering support and shared his vision for the future of Ghana’s agriculture. 

“The challenges we face are significant, but with the right investments and collaborations, we can overcome them and unlock the full potential of our agricultural sector,” he said.

Over the past two decades, Stanbic Bank Ghana has been at the forefront of agricultural development, leveraging its deep sector expertise and innovative digital solutions to support farmers and agribusinesses across the country. 

Through its targeted agribusiness value chain initiatives, the bank continues to drive progress and create opportunities for growth in the sector.