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Farmers to buy government's share in
ADB
Accra, July 23, GNA- The National Farmers and Fishermen
Award Winners Association of Ghana (NFFAWAG)
on Monday appealed to government to offer its 48 per cent
shares in the Agricultural Development Bank first to farmers
and fishermen if it decided to offload its shares.
According to Mr Philip Abayori, President, NFFAWAG, members
"believed that if the farmers and fishers of Ghana own the
said shares, ADB will remain a development Bank to support
the cause of farmers in Ghana".
"ADB has consistently supported farmers despite the numerous
problems confronting us," he said, adding, "We believe one
of the main reasons that motivate the ADB to continue to
lend to farmers is because of Government share holding and
interest in the Bank".
Mr Abayori said in the last two months there had been media
speculation across the country that the "Only Agricultural
Development Bank' was going to be sold out to a foreign
interest.
"If this is anything to go by, we the farmers and fishers
wish to make a humble appeal to the Government not to
offload its shares to any foreign interest.
"If the only Agricultural Development Bank is diversified to
a foreign interest then the farmers of Ghana are doomed
forever".
Mr. Abayori said a lot of people would wonder how poor
farmers would be able to buy the shares, "But it will
interest you to know that we the farmers collectively
advanced a plan to contribute to purchase the shares of the
bank.
"Over 90 per cent of Ghanaian farmers are prepared to put
available all kind of agricultural produce towards the
purchase of ADB shares if it becomes eminent," he said.
Mr Abayori said if Ghanaians were to draw any lessons from
history, they would realize that most diversified companies
to full-fledged foreign interest had not been very
successful, " through we can boast of a few".
This, he noted was because certain international investors
see the vulnerability of the economy and make proposals "
claiming to be saviours and in the end these promises do not
materialized".
The NFFAWAG President however, dismissed the idea that with
this argument it meant that farmers and fishermen did not
prescribe to private foreign capital or investment, saying,
"this was not so and that all that they asked for was, in
doing so we must do it to our advantage".
"We welcome any foreign investor that will come and
establish an independent Agricultural Development Bank to
compete with the current Agricultural Development bank-ADB
to the benefit of the Ghanaian farmer.
"When such an investor establishes and operates such an
Agricultural Development Bank successfully, we the farmers
can see their track record of performance in Ghana and will
appreciate their effort," Mr Abayori said.
GNA
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