The Agricultural Development Bank Plc. (ADB) has indicated its readiness to support ongoing efforts at mopping up the glut in some of Ghana’s farm produce including rice and maize.
The assurance comes at a time the National Food Buffer Stock Company alone is asking for GHc700 million to purchase excess produce from Ghana’s major grain and cereal belts.
Governments commitment of some GHc200 million to the NaFBCo failed to yield any significant impact pushing government to begin talks with the Economic Community of West African States and the World Food Program to procure the glut.
In September, government was compelled to intervene to buy off 1,000 boxes of tomatoes and 2,000 bags of onions going waste in the Ashanti Region.
Speaking to Ultimate 106.9 FM in Kumasi, General Manager for Retail Banking, Frank Okyere – Adarkwa indicated that funding interventions from ADB will be aimed at cutting postharvest losses, securing the incomes of farmers and ensuring sustainable food security.
“In the wisdom of government, they brought up this commodity exchange and the buffer stock company and as a bank we have partnership with these organizations. Ours is to sometimes provide the funding for them to procure or source some of these excesses and make sure we store them for future use when we hit the dry season. We will continue to provide the funding and expertise to ensure that all these are taken care of,” he assured.
Positive Economic Climate
Frank Okyere – Adarkwa further stated that the rebound of the economy coupled with Ghana’s positive macroeconomic outlook presents a favorable climate both for the growth of the bank and the easing of interest rates for its customers.
He argued, “As the economy is bouncing back, risks are coming down, it eases the pressure we place on the customer when we lend money. Interest rates that hovered around 36% could reduce to as low as between 24% and 17%.”
“We are in tune with the changes in the economy and we appreciate what government is doing to stabilize the economy to the level we are seeing. As a bank, once the customer is happy our business also thrives, we grow and it becomes positive for everyone,” Mr. Okyere Adarkwa noted.
Keep Fit and Bonding Exercise
The bank held its keep fit and endurance exercise with its staff and customers in the Ashanti Regional Capital Kumasi to re-energize its front and forge closer ties with its loyal customers.
Staff and managers from the Bono, Ahafo, Bono East and the Northern Region joined in the long walk along major streets of the Central Business District after which the team converged at the Rattray Park for aerobics, games, free health screening and refreshments.
Prof. Ferdinand Ahiakpor, Deputy Managing Director in charge of Services at the Agricultural Development Bank PLC emphasized that the exercise which also forms part of activities heralding the bank’s 60th anniversary is geared towards ensuring the total health of the bank and its internal and external customers.
“This year we posted very good profits but as a business and a state bank, we think beyond thee profit. We think about the health of our staff, the health of our customers and the health of the nation. That is our biggest motivation,” he averred.
ADB PLC’s Growth
Agricultural Development Bank PLC (ADB) posted an impressive 153.66% profit growth in the third quarter of 2025 with profit before tax standing at GH¢447.49 million, compared to the GH¢176.41 million recorded during the same period in 2024.
ADB’s total operating income shot up by 53.5% from GH¢765.7 million in the same period in 2024 to GH¢1.17 billion, a growth that has received commendation from industry watchers.
By: Ivan Heathcote – Fumador.
