August 12, 2010

Ghanaian Agriculture Association Attracts Significant Bank Loan

Volunteer Training Helps Local Group Build Skills to Better Compete

The National Association of Mechanization Service Centre Operators (NAAMSECO), through the support of ACDI/VOCA, has earned the approval of a $4.5 million bank loan from a leading Pan-African bank.

The award is one of the largest loans ever approved by Stanbic Bank Ghana to a Ghanaian agriculture association and presents a great opportunity for the development of mechanized agricultural services in the country.

Loan To Grow Agricultural Services

NAAMSECO is a Ghanaian association of private mechanized agricultural service providers. It currently is the largest service provider of its kind in Ghana, providing planting, spraying, harvesting, shelling, carting, storage and other mechanization services to small- and medium-scale farmers throughout the country.

Like many private ventures in Ghana, NAAMSECO needed investment support for more equipment to expand its business. The association, however, lacked the technical expertise to apply for investor funding.

Volunteers Train Ghanaian Staff

ACDI/VOCA stepped in to fill this gap and offered assistance through two volunteer experts under our USAID-funded Farmer-to-Farmer program.

The volunteers developed a business plan and organized a four-week capacity building workshop for the association, focused on making the group more competitive. Through the volunteers, NAAMSECO members received skills-training in accounting, management, marketing and efficient machinery operation.

New Skills Bring New Agricultural Opportunities

Armed with a new business plan and fresh knowledge and skills, NAAMSECO staff made an impression on Stanbic Bank. Within a short time, the bank approved the $4.5 million loan for NAAMSECO to expand its business. ACDI/VOCA plans to continue supporting NAAMSECO with technical assistance and skills-building to ensure efficient management of its expanded business, which holds promise as a profitable, sustainable private venture in Ghana.

Learn more about our Ghana Farmer-to-Farmer program.