Absa Bank Ghana Wins Four Agri-Financing Awards

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Absa Bank Ghana has received recognition from the Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL) for its exceptional support to the agricultural sector.

Absa Bank emerged as the overall winner of the GIRSAL Partner Financial Institution Excellence Awards 2023 across four significant categories. These include 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.

According to a press release from the bank shared with the Daily Graphic, Absa’s accolades underscore its unwavering dedication to bolstering the agricultural sector by providing financing and enhancing capacity for various stakeholders along the agricultural value chain. These stakeholders encompass processors, aggregators, input dealers, and smallholder farmers operating as out-growers for agribusinesses.

The awards were granted following a rigorous evaluation of institutions’ performances, including the volume and value of agricultural loans extended, the caliber of loan applications, and their engagement in GIRSAL’s Technical Assistance and Advisory services.

Kobla Nyaletey, the Executive Director for Retail & Business Banking at Absa Bank Ghana, expressed gratitude for the recognition from GIRSAL, emphasizing the bank’s commitment to supporting Ghana’s agricultural sector. Nyaletey attributed the awards to the hard work and dedication of Absa’s team, highlighting their passion for making a positive impact on the lives of Ghanaian farmers.

Nyaletey further stressed Absa’s unwavering commitment to the sector’s growth, citing agriculture’s pivotal role in Ghana’s economic development. He underscored the bank’s proactive approach to addressing the high-risk challenges inherent in the agricultural sector, including forging strategic partnerships like the one with GIRSAL to facilitate improved access to funding. According to Nyaletey, Absa Bank perceives opportunities for growth in every farmer’s narrative and remains steadfast in its pursuit of innovative solutions to support agricultural development in Ghana.