Nat’l Tymes News Desk
PRESIDENT John Dramani Mahama has assured farmers across the country that government is working to reduce interest rates on agricultural loans to below 10 percent.
He said this would make it easier for farmers to access credit and grow their businesses.
Speaking at the 41st National Farmers’ Day celebration in Ho on Friday, December 5, President Mahama said high-interest loans remain one of the biggest challenges facing farmers.
According to him, many farmers end up “working for the banks instead of working for themselves” because loan repayments are too high.
This year’s Farmers Day celebration focused on encouraging self-sufficiency in food production to secure the country’s future. President Mahama noted that Ghana’s annual food import bill—currently about 3 billion—was worrying. He stressed that the government is committed to reducing this by boosting local food production.
The President also highlighted plans to provide solar-powered water pumps to help farmers irrigate their farms throughout the year. This, he said, would reduce the need for clearing large areas of land and support all-year-round farming.
President Mahama further emphasized the important role of women in farming and fishing. He called for more support for female farmers, especially through access to credit at fair interest rates.
He encouraged Ghanaians, including government appointees, to take part in farming by cultivating crops such as oil palm to supplement their income. Investing in agriculture, he said, is key to producing enough food and improving financial stability.
President Mahama concluded by urging everyone to support the agricultural sector and contribute to the country’s food security.
Source: Nationaltymes.com
