Many small-scale farmers lack access to quality inputs, such as seeds and fertilizer, and are severely underserved in terms of financing for these items. Increased demand for soy and rice provides an opportunity to fill these needs through investment in agribusinesses that can provide farmers affordable access to inputs, storage, and a reliable offtake market.
Intercontinental Group Ltd is an agribusiness in Northern Ghana that imports and supplies inputs to outgrower farmers and exports produce.
It currently works with over 16,000 women who pick shea but also have maize farms. Intercontinental Group Ltd provides these farmers with capacity building and seeds and fertilizers on credit, which the farmers payback in kind when they harvest. The agribusiness is currently a supplier to major international organizations including World Food Program, as well as local firms such as Buffer Stock Company. The firm is looking to expand its storage and processing capacity in order to increase its throughput. Intercontinental Group Ltd estimates that more than 16,000 women would benefit from the investment.
Intercontinental Group Ltd seeks US$2.0 million to US$4.0 million for capital expenditure to construct warehouses and working capital to aggregate rice and maize and sell to institutional buyers. The company is interested in debt, equity, and grant funding.
Intercontinental Group Ltd is working with DAB Consult, a BAS provider, to identify financing best suited to its needs.
An ERR needs to be completed for this investment.
There are a number of government- and donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as:
- USAID-supported ADVANCE Project
- Savannah Agricultural Development Authority
- Ghana Commercial Agricultural Project financed by USAID and World Bank.
Nash Suleman, CEO, +233 (0) 208 171 665; (0) 244 601 924; email@example.com