The market for soy has become attractive in recent years due to increasing demand within Ghana from poultry and poultry feed producers, as soy is a main ingredient in feed products. To revitalize the soy sector, farmers have received support from GoG and development partners such as USAID-ADVANCE II, Mennonite Economic Development Associates (MEDA) of USA, SNV (Netherlands Development Organization), and Catholic Relief Services (CRS).
Agriaccess Ghana Ltd. began operations in 2011 as a sorghum producer and aggregator. The company rose to become the largest supplier of sorghum to Guinness Ghana Breweries Ltd. (GGBL), the brewer and distributor of Guinness stout in Ghana. The company has, within 5 years of operation, supported over 20,000 farmers to earn an estimated annual gross revenue of over $1.3 million. It now seeks $265,000 in
long-term financing and a working capital line of credit to move into soya production and replicate its early success.
In addition to its own farms, Agriaccess works with a network of smallholder farmers and has more than doubled their number over the past year, from 9,000 to 21,000. Of those, Agriaccess contracts directly with 6,000 smallholder farmers, providing inputs such as seed, fertilizer, training, plowing services, and marketing help—essentially funding all production costs in exchange for an offtake of their sorghum crop. It works indirectly with 15,000 smallholders who are either aggregators or independent farmers. These smallholders bear production costs on their own, but sign a sales contract with Agriaccess in which they commit to sell an agreed volume of sorghum for an agreed price.
Agriaccess will bring its experience and success to the soy market, which is the focus of this new investment.
Agriaccess is seeking $265,000 in long-term financing for capital expenditures for acquisition of three new tractors and accessories, and working capital for seed and other inputs for production.
Agriaccess may require a BAS provider to help raise financing for the project.
A USAID-FinGAP ERR has not yet been conducted.
Anthony Poore, Managing Director, +233 (0) 203513845, firstname.lastname@example.org