Opportunity International Savings and Loans (OISL) has supported the agricultural sector by disbursing over GH¢27million to farmers. Spanning between years of 2012 and 2014, over 42,000 clients, mainly subsistence farmers, have benefitted from these loans.
Through OISL’s financing, Ghanaian farmers have gained access to training in modern agricultural practices and increased crop production, food security, education and health care.
Kwame Owusu-Boateng, CEO of Opportunity International Savings and Loans Limited, OISL, said: “The agricultural sector of Ghana is a major contributor of income to the country’s economy, thus the need to boost it in terms of financing that accrues to the country’s benefit.
“Although a major sector, farmers’ accessibility to credit has been a major problem. As a savings and loans company established with the aim of supporting micro, small and medium scale enterprises — of which farmers are prime, we are always working toward providing financing to help boost the businesses of our local farmers.
“Our records in the past three years of financing the businesses of our clients are encouraging, and we believe we will do even better in the coming years to help restore hope in our farmers and the agricultural sector,” he said.
He added that OISL has served farmers in the prime regions of the country; including Brong Ahafo, Western, Eastern, Central, and Greater Accra Regions.
Speaking on partnerships with agriculturally-conscious agencies in the country, Mr. Owusu-Boateng noted that OISL has had very fruitful partnerships with organisations that are dedicated to improving the agricultural sector.
“We have worked with organisations that are dedicated to improving the agric sector of the country. These agencies are helping to shape the sector in terms of training, pricing and inputs; and we are hopeful of having continuous successful partnerships with them as a means to improving the lives of farmers and their works in Ghana.”
OISL has worked with the Ministry of Food and Agriculture, CALI Ghana Limited, WIENCO & YARA, Practical Care, Esoko, and Technoserve among others.
By providing access to a full range of financial services along with linkages to local input suppliers, agric extension service providers and crop markets, OISL has empowered farmers to increase their crop yields, productivity, and access to markets.
Farmers, as a result, have improved their cash flow, hired additional farm and non-farm labour and purchased assets to expand their businesses.