EDAIF expands reach to stimulate business and export trade

Access to credit and low production capacities as well as market information, product development and packaging are among major challenges facing businesses in the country.

The Ministry of Trade and Industry is hoping to address these through interventions of the Export Trade, Agricultural and Industrial Development Fund (EDAIF).

Acting sector Minister, Dr. Mustapha Ahmed, says zonal offices are being established across the country to make services accessible by reducing cost and time for potential clients.

He however tells Luv Biz accessing support under the Fund depends on how bankable, saleable and feasible a proposal is to receive approval.

“EDAIF is ready to support all businesses that are aiming to expand their activities so that they can also increase their capacity to export more,” said Dr. Ahmed.

Ghana export strategy has a policy of increasing revenue generation from the non-traditional export sector from the current $2.4billion to $5billion by 2017.

Dr. Ahmed noted there are special funding arrangements for some industries in poultry, agribusiness and pharmaceuticals to boost production and meet international market standards for export.

The EDAIF has the objective of providing financial resources for the development and promotion of export trade, agriculture related to agro-processing and industrial development.

Ashanti regional minister, Samuel Sarpong, is hopeful the siting of the EDAIF Zonal office in Kumasi would drive the promotion of business, commerce and tourism in the region.

Story by Kofi Adu Domfeh