President John Dramani Mahama has reiterated the need for agricultural financing in Ghana to be offered at single-digit interest rates, arguing that affordable credit is essential for boosting food production and protecting farmers from crippling debt.
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 obstacles facing farmers, many of whom end up “working for the banks instead of working for themselves.”
According to him, farmers who borrow at prohibitive rates often lose most of their profits to loan repayments, undermining their ability to expand, invest in modern tools, or ensure stable income for their families.
Source:Lovinghananews.com
