BoG Governor urges banks to redesign loans for agriculture-focused SMEs

He said despite the improvement in Ghana’s economic conditions and a strong rebound in credit creation, many SMEs in the agricultural sector continue to struggle to access financing because banks perceive them as relatively high-risk businesses.“However, despite the improved economic environment and the growing demand for credit, many SMEs, particularly those on the agricultural value chain, still struggle to access finance, just because banks continue to perceive these businesses as relatively high risk,” he said.

Asiama, BoG Governor The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has urged banks to develop more innovative and flexible credit products tailored to the needs of small and medium-sized enterprises (SMEs), particularly businesses operating along the agricultural value chain.