Ecobank deepens support for agriculture with dedicated expertise and training – Charlotte Amanquah

Ecobank is strengthening its support for the agricultural sector through dedicated resources, specialised expertise, staff training and technical assistance aimed at improving access to finance and managing risks within the sector.

Speaking at Ecobank-Joybusiness financial dialogue series on Tuesday, September 22, Regional Head of Consumer and Commercial Banking of Anglophone West Africa, Charlotte Amanquah, said agriculture remains a clear strategic priority for the group, with significant resources being committed to building the expertise needed to serve businesses across the sector.

The dialogue, held under the theme “Green Finance, Real Impact: Powering Inclusive Agri-Growth in Ghana,” brought together agricultural small and medium-sized enterprises (SMEs), entrepreneurs, regulators, the media and other stakeholders to discuss how green finance can support inclusive growth in Ghana’s agricultural sector.

“We have agriculture as a clear strategy, and the action has followed that strategy,” Mrs Amanquah said.

She explained that Ecobank’s approach begins with ensuring that it has the right people and expertise internally, including recruiting professionals who understand both agriculture and banking.

“We spend time looking for people who already understand the sector and banking. So that's the first step, internally getting resources with the right expertise,” she said.

Mrs Amanquah added that the bank regularly trains its staff, including those who interact directly with customers and employees working at the back end of its operations.

She said the training is particularly important for Ecobank’s risk assessment teams, given concerns within the banking sector about the perceived risks associated with agricultural lending.

“Today, banks are saying, ‘Oh, there’s too much risk.’ But the people who assess risk in Ecobank also go through the agriculture training, and they understand what to look out for where there’s truly risk,” she explained.

According to her, the commitment to agricultural expertise extends through the bank’s senior management, ensuring that the strategy is supported across different levels of the institution.

Mrs Amanquah said Ecobank’s agricultural strategy also focuses on strengthening the capacity of its customers through technical assistance and other forms of support.

She noted that the bank’s work with customers goes beyond simply providing financing, as it also seeks to equip businesses with the knowledge and capacity required to operate effectively.

She further highlighted Ecobank’s network of customers across different markets as an advantage that allows the bank to learn from experiences within the sector and apply relevant lessons elsewhere.

“When we’ve learned from one and their experience, we share that with another, obviously maintaining confidentiality,” she said.

Mrs Amanquah also disclosed that a significant portion of Ecobank’s technical assistance programmes is funded through partnerships with development institutions.

According to her, these institutions provide a combination of guarantees, concessional funding and grants designed to strengthen the capacity of both the bank and its customers.

“They provide guarantees, they provide concessional funding, and then grants aimed solely at building the capacity of both the client and us,” she said.

She described Ecobank’s approach as a “full holistic” model, combining financial resources, technical assistance, staff expertise and customer capacity building.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.