Access Bank, IFC disburse US$87.43M to support Ghana cocoa production and agribusiness growth 

GHANA – Access Bank PLC, in partnership with International Finance Corporation, has disbursed approximately GH₵1 billion to support cocoa production and purchases in Ghana as part of broader efforts to strengthen agribusiness development and boost export trade. 

The funding initiative targets players across Ghana’s cocoa value chain and forms part of the bank’s long-term strategy to support agriculture and export-oriented commodities. 

Speaking during a press soirée in Kumasi, Access Bank Managing Director Pearl Nkrumah said agribusiness remains one of the institution’s major strategic priorities, with cocoa continuing to receive significant financial support. 

According to Nkrumah, the bank has financed cocoa purchases through Licensed Buying Companies (LBCs) for more than five years. 

“Last year, we set aside about GH₵900 million for cocoa. Because we wanted to do more, we partnered with the International Finance Corporation (IFC) and our cocoa budget grew to more than GH₵1 billion,” she said. 

She explained that the initiative initially began with an annual allocation of GH₵100 million before expanding steadily over the years due to increasing demand for agricultural financing. 

Nkrumah added that the bank’s support goes beyond cocoa purchases and is aimed at strengthening Ghana’s export sector and increasing foreign exchange earnings through agribusiness development. 

The bank is also considering additional support for export-focused agricultural commodities such as cashew and shea as part of efforts to diversify financing within the agricultural sector. 

“We continue looking for partners that will support us to achieve agricultural development,” Nkrumah said. 

She further noted that Access Bank, together with the Mastercard Foundation, has been implementing financing programmes under the Building Resilience and Investing in the Development and Growth of Entrepreneurs in Agriculture (BRIDGE) initiative. 

According to Nkrumah, the programme offers financing to agribusiness operators at single-digit interest rates of approximately seven percent. 

She said Access Bank ranks among the financial institutions that have disbursed the highest amount of funds under the BRIDGE programme, with nearly 40 percent of beneficiaries located in the Ashanti Region. 

Nkrumah also revealed that the bank has instructed its commercial units nationwide to identify and support agribusiness operators within their local communities. 

In addition, Access Bank has established a dedicated export desk to assist agribusiness operators, farmers and manufacturers in accessing international markets and expanding global trade opportunities. 

The development comes as Ghana Cocoa Board recently announced plans to raise US$1 billion through domestic bonds to finance cocoa purchases ahead of the 2026/27 cocoa season. 

According to the board’s head, Randy Abbey, the proposed bond will be denominated in Ghanaian cedis and issued before the new cocoa season begins around August. 

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