Ghana’s Agricultural Development Bank has announced a GHC500 million (US$ 87 million) loan facility in support of the government’s Broiler Revitalisation Programme aimed at increasing the domestic production of chicken.
Ghana currently imports over US$ 300 million (about 180,000 mt) worth of chicken annually, or the equivalent of 5 million chickens each week. The country’s own production equates to about 58,000 mt whereas national demand is about 400,000 mt, reports the Business Insider.
US$ 87 million is set to help revive Ghana’s poultry sector and reduce imports of poultry meat. Photo: Tim Chesney
Dr John Kofi Mensah, managing director of ADB, says that GHC25 million (US$ 4.3 million) has been approved for the initial phase of the project, which is for 6 broiler value chain players to produce and process over 100,000 birds weekly.
Broiler Revitalisation Programme
The Broiler Revitalisation Programme aims to revive the poultry industry and encourage growth in related sectors. The Graphic Online notes the initiative would target the entire value chain, from businesses engaged in the production of poultry feed to the rearing of the birds and the processing and marketing of chicken meat. “If you were producing about 10,000 birds per month, you should be able to produce 100,000 birds per week after benefiting from this support,” said Mensah.