The Bank of Ghana (BoG) has thrown its weight behind a new Risk Sharing Guarantee Scheme between Access Bank Ghana Plc and the International Finance Corporation (IFC), describing the initiative as a timely and strategic boost for financing across Ghana’s cocoa value chain.
Speaking at the signing ceremony in Accra, the Second Deputy Governor of the BoG, Mrs. Matilda Asante-Asiedu, said the partnership reflects a shared commitment to strengthening agriculture—particularly cocoa—while advancing broader national goals such as financial inclusion, private sector growth and economic diversification.
According to her, the scheme is structured to unlock growth opportunities by improving access to finance for key players in the cocoa ecosystem, especially Licensed Buying Companies (LBCs). These companies, she noted, are critical intermediaries that connect smallholder cocoa farmers to both domestic processors and international markets.
“The liquidity of Licensed Buying Companies is not just a business concern; it is a national economic priority,” Mrs. Asante-Asiedu said. “Their stability safeguards rural livelihoods, sustains export earnings and supports exchange rate resilience.”
Under the risk-sharing arrangement, Access Bank and the IFC will jointly absorb a portion of the credit risk associated with lending to LBCs. This structure is expected to encourage increased lending by reducing banks’ exposure, while enabling LBCs to secure the working capital they need to purchase cocoa from farmers during the peak season.
Mrs. Asante-Asiedu emphasized that the initiative comes at a time when Ghana’s macroeconomic environment is showing clear signs of improvement. She pointed to prudent monetary policy and disciplined fiscal management as key factors that have helped restore confidence in the economy, support growth and bring inflation back to single-digit levels.
“These gains create the right conditions for innovative financing solutions such as this risk-sharing scheme to thrive,” she said, adding that targeted interventions in productive sectors like agriculture are essential for sustaining the recovery and building long-term resilience.
She also highlighted the broader development impact of strengthening cocoa financing, noting that the sector supports millions of livelihoods, particularly in rural communities. Improved access to credit for LBCs, she explained, ultimately translates into more reliable incomes for farmers, better supply chain efficiency and stronger export performance.
Representatives from Access Bank and the IFC echoed these sentiments, describing the agreement as a practical demonstration of how partnerships between development finance institutions and commercial banks can crowd in private capital and address long-standing financing gaps in priority sectors.
The cocoa sector remains a cornerstone of Ghana’s economy, accounting for a significant share of export revenues and employment. With the BoG’s backing, the IFC–Access Bank Risk Sharing Guarantee Scheme is expected to play a meaningful role in strengthening the sector’s financial backbone and supporting Ghana’s broader economic transformation agenda.
