President Nana Addo Dankwa Akufo-Addo launched Ghana's Agricultural Bank (GCX) on Tuesday, November 6, a platform to create a market for agricultural products in accordance with the law of supply and demand.
Some millions of farmers will be integrated into GCX and its affiliated reception system over the next 18 months. Ghana farmers would have access to a safe deposit for their crops and good storage management practices.
Along with the launch of Accra, Akufo-Addo President said GCX would be one of the key factors in achieving his government's vision of becoming Africa's agricultural center. He added that although farmers in Ghana are responsible for feeding a country of about 29 million people, they are not guaranteed to guarantee guaranteed income for their work and efforts.
In turn, some of them have to deal with the volatility of commodity prices, and many have little or no knowledge of the real value of their products. Worse, most transactions in the agricultural sector are oral or negotiated. In most cases, there is no formal contractual agreement leading to commercial disputes that undermine our marketing system, "he said.
Ghana's commodity exchanges should create about 200,000 jobs for farmers and value chain traders, said Finance Minister Ken Ofori-Atta.
"The creation of about two hundred thousand jobs in highly qualified and unqualified sectors will be open to merchants, data analysts, risk managers, management consultants, traders, loan officers, among others. senders, among others, "the minister said.
GCX, the first modern commodity exchange in Ghana and West Africa, seeks to bind producers and purchasers of agricultural products and commodities and allow them to trade commodities. quality and standardized to enable them to obtain the full measure of their wealth.