GCB Bank Managing Director Farihan Alhassan has pledged robust support for Ghana’s agricultural and industrial sectors, positioning the lender as a catalyst for reducing import dependency and strengthening export capacity.
Speaking at the 2025 Kwahu Business Forum in Mpraeso, Alhassan outlined a three-pronged strategy targeting agribusiness value chains, long-term project financing, and global market access a blueprint attendees hailed as critical for accelerating economic transformation.
“GCB is committed to supporting businesses to transition from mere importation to local production. This shift is vital for sustainable recovery,” Alhassan told entrepreneurs and industry leaders. Breaking from conventional banking caution, he announced a landmark policy to fund primary agriculture, a segment long avoided by financial institutions due to perceived risks. “Never again will you be told we cannot support your business because it’s primary agriculture. We’re backing the sector from seed to export,” he asserted.
Addressing systemic gaps, Alhassan acknowledged Ghana’s shortage of long-term capital for industrial projects. He revealed ongoing talks with Development Bank Ghana and other development finance institutions to structure extended credit facilities for factory construction and large-scale agri-processing. “Banks must step up to make industrialization feasible,” he said, emphasizing collaborations to de-risk lending.
On exports, Alhassan highlighted partnerships with the Ghana Export Promotion Authority and the Free Zones Authority to align local products with international standards, particularly amid shifting global supply chains. “Meeting quality benchmarks is non-negotiable for accessing foreign markets,” he said, noting plans to embed compliance protocols into client support services.
The address resonated with forum participants, many of whom cited financing hurdles as a bottleneck for scaling operations. Isaac Adjei-Mensah, a cashew processor, welcomed the focus on agriculture: “If banks finally understand our value chains, it’s a game-changer.”
GCB’s strategy reflects a broader reckoning within Ghana’s financial sector. Historically, less than 5% of bank loans have targeted agriculture, despite the sector employing over 40% of the population. Similar gaps plague manufacturing, which contributes just 10% to GDP.
While past initiatives, like the 2017 Planting for Food and Jobs program, boosted farm output, limited financing for mechanization and processing undermined long-term gains. Neighboring Nigeria’s Anchor Borrowers’ Program offers a cautionary tale: despite initial success, poor repayment rates and logistical gaps weakened impact.
Alhassan’s vision now faces scrutiny over execution. Analysts stress that sustainable agribusiness financing requires tailored insurance products and tech-driven monitoring to mitigate climate and market risks. For industrial projects, success hinges on synchronizing bank terms with equipment lifespans a challenge in Ghana’s high-interest environment.
Still, GCB’s 70-year market presence and balance sheet strength position it to lead this pivot. As global demand for sustainable exports grows, the bank’s emphasis on standards and partnerships could finally bridge the gap between Ghana’s raw potential and its industrial ambitions.
