Dumelo launches $87m ‘Bridge in Agriculture’ to support youth, women

Deputy Minister of Agriculture, John Dumelo, has launched the Bridge in Agriculture Programme. This initiative aims to provide affordable capital and technical support for Small and Medium Enterprises (SMEs) in agriculture across Ghana.

At the launch on May 29, Mr. Dumelo emphasized the programme's importance. He noted it supports Ghana’s goal for inclusive and technology-driven agricultural transformation. He thanked the Mastercard Foundation for its commitment to creating jobs for young people in Africa.

“Agriculture employs nearly 40% of Ghana’s workforce,” he stated. “It also supports about 75% of the rural population.” However, he pointed out that the sector faces challenges like limited access to finance and climate vulnerabilities.

The Bridge in Agriculture Programme is a strategic breakthrough. It has $87 million allocated through partner banks to support agribusinesses, especially those led by women and youth. Loans will have interest rates not exceeding 7%, along with hands-on capacity building for beneficiaries.

The initiative aims to benefit over 400,000 Ghanaian youth, with 70% being women. It aligns with the Ministry of Agriculture’s “Food to Feed Ghana” programme. The goal is to help young entrepreneurs shift from subsistence farming to competitive enterprises.

Mr. Dumelo encouraged youth by saying, “Start small, grow gradually, and you will become bigger one day.” Fanta Fandi leads the Bridge in Agriculture Programme for the Mastercard Foundation. She described it as a flagship initiative developed in 2023.

Fandi explained that the Foundation provides partner banks with 0% interest grants. These grants allow banks to lend to SMEs at a capped rate of 7%. They also cover higher loan monitoring costs within agriculture.

So far, about 86,000 young Ghanaians aged 18 to 35 have benefited from new or improved work opportunities. Business development service providers are training participants in vocational and digital skills while connecting them to job opportunities.

The programme is implemented through a partnership between the Mastercard Foundation and CrossBoundary Advisory. This consortium includes ten partners like Africa Skills Hub and iBuilders Africa as business development providers.

Together they aim to deliver lasting impact in Ghana’s agriculture sector.