Stanbic Bank Ghana has reaffirmed its commitment to helping women-led Small and Medium Enterprises (SMEs) in the agribusiness sector by giving them access to competitive financing choices, so women involved in agribusiness may now breathe easier.
Mr. Yaw Njorgnab, Manager of Agribusiness at Stanbic Bank Ghana, discussed the many funding options available to female entrepreneurs wishing to grow their companies during his speech at the 2025 Women in Business Dialogue Series.
He listed the main funding channels for women-led agribusinesses, including government initiatives like the Ghana Enterprises Agency (GEA), the Microfinance and Small Loans Centre (MASLOC), and the Ghana Incentive-Based Risk Sharing System for Agricultural Lending (GIRSAL).
“There are private sector grants, venture capital programs, and crowdfunding initiatives as viable alternatives. The bank recognizes the significant role women play in the agribusiness value chain, and we are committed to ensuring they receive the financial support needed for expansion. Through our partnerships and innovative financing solutions, we aim to bridge the funding gap and empower female entrepreneurs in the sector” he said.
Mr. Njorgnab addressed concerns regarding commercial banks’ reluctance to lend to agribusinesses, pointing out that development finance institutions (DFIs) like the African Guarantee Fund (AGF), GIRSAL, the MasterCard Foundation’s BIA Programme, and the Development Bank Ghana (DBG) are forming strategic partnerships to help address issues like unpredictable weather, a lack of adequate risk management tools, and limited collateral availability.
“Many commercial banks, including Stanbic Bank Ghana, are actively working to change the perception that agribusiness financing is high-risk. Our collaboration with DFIs allows us to offer long-term funding at affordable interest rates while ensuring accessibility for SMEs.”
He added that as a result of these interventions, Stanbic Bank Ghana has raised its financial support for the agribusiness sector from 10% in 2023 to roughly 15% in 2024, indicating its growing faith in the sector’s potential. As the agribusiness sector develops, Stanbic Bank Ghana is dedicated to creating an environment that supports women-led SMEs and makes sure they have the tools they need to prosper and make a significant contribution to the nation’s economic growth.
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