Ghana’s agricultural sector has received a major financial boost following two landmark partnerships announced by the International Finance Corporation (IFC) with Absa Bank Ghana LTD and Ghanaian AgTech firm Complete Farmer.
A joint release by the three partners reveals that the joint initiative will deploy up to $200 million in financing to support cocoa purchases across the country, securing vital market access for tens of thousands of smallholder farmers.
Securing the Supply Chain for 139,000 Smallholders
Under the main financial agreement, the IFC and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP) are providing up to $50 million in an unfunded risk participation facility.
The IFC says this risk-sharing structure enables Absa Bank Ghana to unlock up to $200 million in credit for Licensed Buying Companies (LBCs).
The funds will allow LBCs to buy traceable cocoa directly from farmers throughout the buying season, ensuring stable income and market access for more than 139,000 smallholder cocoa farmers.
Beyond immediate liquidity, the financing arrangement mandates that cocoa purchases remain traceable and align with sustainable practices under the Paris Agreement on climate change. As one of Ghana’s most critical economic pillars, the cocoa sector supports nearly 800,000 registered farmers and provides livelihoods for millions of citizens.
Emphasizing the strategic importance of the intervention, Edward Nartey Botchway, Managing Director of Absa Bank Ghana, stated that “Ghana’s cocoa sector carries thousands of farming households and anchors our export economy. Through this partnership with IFC, we are financing Licensed Buying Companies to purchase traceable cocoa across the buying season — protecting reliable market access for farmers. At Absa Bank Ghana, we believe our expertise and capital are at their best when they are working for the people who feed our economy, and for a cocoa value chain that is productive, sustainable and resilient.”
Connecting Farmers to Capital Through Technology
To complement the macro-level cocoa purchasing facility, the IFC is also investing directly in digital agricultural infrastructure through a partnership with Complete Farmer.
Supported by the Business Investment Financing Facility (BIFT), the IFC is delivering a $2.4 million convertible loan to Complete Farmer alongside $660,000 in advisory and grant support.
The capital and capacity-building assistance will help scale Complete Farmer’s digital platform, which connects farmers with buyers, financial institutions, input suppliers, and agricultural service providers, aiming to support 240,000 farmers and facilitate financial access by 2030
Highlighting the practical challenge faced by commercial growers, Desmond Koney, CEO of Complete Farmer, noted that “For us, this partnership is about making finance work better for farmers. Too many farmers with the capacity to grow commercially still struggle to access the financing they need to do so. Over the years, we have focused on building the technology, data and market infrastructure that makes it possible to better understand farmers, support their production and connect what they grow to real demand. Our partnership with IFC allows us to build on that foundation and scale our input financing model, so that more farmers have the resources and support they need to grow sustainably and participate more meaningfully in agricultural markets.”
Building a Resilient Agricultural Economy
Together, these dual interventions reflect a coordinated strategy to address financing gaps at multiple levels of the agricultural value chain, from large-scale commodity purchasing to smallholder input supply.
The projects align with the broader World Bank Group agriculture agenda in Ghana and the goals of AgriConnect to mobilize private capital, bolster food security, and generate rural employment.
Underlining the long-term vision of the partnerships, Nathalie Kouassi Akon, IFC Division Director for West Africa Gulf of Guinea, noted, “These partnerships address different gaps across the value chain, from financing cocoa purchases to helping farmers access inputs, services, finance, and buyers. Together, they demonstrate how private investment can support a more productive and resilient agricultural sector.”
