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Agric Bank disburses GH¢ to poultry farmers
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Agricultural Development Bank (ADB), a leading indigenous bank, has begun the disbursement of funds to players in the poultry value chain in the country under its Poultry Value Chain Financing Programme (PVCFP).
The company yesterday released the first tranche of the facility; amounting to more than GH¢23 million to six companies in the poultry value chain in the Bono Region.
ADB last month announced a GH¢500-million package to support the local poultry industry to increase production in a bid to reduce the country’s import of poultry.
The package under the ADB PVCFP programme being rolled out in partnership with the Bank of Ghana, Ministry of Food and Agriculture, Ghana-Incentive-Based-Risk-Sharing System for Agricultural Lending (GIRSAL) and Outgrower and Value Chain Fund (OVCF) is to boost local production of poultry.
Speaking at the ADB Poultry Value Chain Stakeholders’ Meeting in Accra yesterday, the Managing Director of ADB, Dr John Kofi Mensah said the ADB PVCFP was to support the government’s Broiler Revitalisation Programme, which is meant to increase the domestic production of poultry.
According to him, the local poultry industry held the key to addressing the perennial depreciation of the cedi if efforts were made to revamp the industry and increase local production of poultry.
“The Poultry Industry has the propensity to stabilise the cedi and boost the growth of the Ghanaian economy,” Dr Mensah stated.
Dr Mensah observed that the country annually imported more than $370 million worth of poultry products to meet the shortfall in demand, when same could be produced locally to save the country a lot of foreign exchange.
He said the country’s reliance on imports to meet its meat and poultry needs, was putting pressure on the local currency.
Dr Mensah said the country needed to produce 400,000 metric tonnes of meat annually to meet the country’s meat needs, but the players in the industry could onlyproduce 57,871 metric tonnes, leaving a huge deficit.
The ADB MD said his outfit was committed to helping the country reduce its reliance on imported poultry to meet the poultry needs of the country and it was in that direction that the ADB PCCFP was initiated.
He said the programme was meant to support all the players in the poultry value chain including hatcheries, producers, feed millers, processors and marketers.
Dr Mensah said the interest rate on the ADB PVCFP was not more than ten per cent to give financial relief to players in the poultry value chain.
The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto in remarks made on his behalf by his Technical Advisor, Emmanuel Krobea Asante, commended ADB for the role it was playing to support the government’s Planting for Food and Jobs and the Rearing for Food and Jobs Programmes.
According to the minister, ADB’s name was becoming synonymous with the Planting for Food and Jobs and the Rearing for Jobs and Food Programmes, since it was the bank that was mainly financing the two programmes.
Dr Akoto said the government was working with stakeholders to ensure that interest rate on loans disbursed to players in the value chain under the ADB PVCFP programme did not go above ten per cent.
The minister entreated the beneficiaries of the ADB PVCFP to pay back the loans to ensure the success of the programme.
Senior Agribusiness Specialist of GIRSAL, Mr Takyi Sraha lauded ADB for the initiative and said his outfit was proud to be associated with the programme.
He said his outfit was ready established to help players in the agricultural value chain de-risk their operations and increase their production.
The Monitoring and Evaluation Specialist of OVCF, Michael Kpormegbe said his outfit had so far released 50 million euros to support players in the agriculture value chain.
He said additional funds had been approved in the third phase of the programme to further support players in the agricultural industry in the country.
BY KINGSLEY ASARE
The Accra Regional Police Command has arrested former professional boxer Michael Ayitey Okai, popularly known as “Ayitey Powers,” over an alleged threat of death against the Director-General of the National Sports Authority, Yaw Ampofo.
According to the Police, the 46-year-old former boxer was arrested on Monday, August 24, 2026, in connection with the alleged threat.
The Police said the arrest followed a video circulating on social media in which Ayitey Powers is alleged to have issued the threat against Mr Ampofo.
He is currently in Police custody and is assisting with investigations.
The Accra Regional Police Command said investigations are ongoing to establish the circumstances surrounding the alleged threat and determine the appropriate action to be taken in accordance with the law.
The Command has urged the public to refrain from sharing unverified information about the matter while the investigation continues.
By: Jacob Aggrey
Minority Leader in Parliament Alexander Afenyo Markin has sued the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, and Multimedia Group Limited over alleged defamatory comments made against him on the Newsfile programme.
In a writ filed at the High Court in Accra, Mr Afenyo Markin is seeking GH¢15 million in damages, an apology and retraction of the statements, among other reliefs.
The suit follows comments allegedly made by Mr Gyamfi during the Saturday, August 22, 2026 edition of Newsfile, hosted by Samson Lardy Anyenini.
According to the statement of claim, Mr Gyamfi described Mr Afenyo Markin as an “extortionist” while responding to a question about GoldBod’s reported profits and its position on losses arising from its operations.
The plaintiff claims that Mr Gyamfi repeated the allegation when the host sought clarification on whether he stood by the description.
Mr Afenyo Markin further claims that Mr Gyamfi challenged him to sue him and insisted that the allegation was true.
The plaintiff argues that the statements created the impression that he engages in extortion, uses his political influence to put improper pressure on public institutions and officials, and conducts himself in a manner inconsistent with the standards expected of a lawyer and public office holder.
He denies the allegations and maintains that he is not an extortionist and has never engaged in the conduct alleged by Mr Gyamfi.
The Minority Leader also argues that the comments were made maliciously and were presented as facts without evidence being disclosed.
He claims the statements have damaged his reputation, professional standing and public image, particularly because of his position as a senior political figure and legal practitioner.
The suit also names Multimedia Group Limited as a defendant because, according to the plaintiff, the alleged defamatory comments were broadcast through JoyNews and subsequently circulated on social media platforms, including X, Facebook and YouTube.
Mr Afenyo Markin claims Multimedia failed to stop the comments or deactivate Mr Gyamfi’s microphone after the allegations were made.
He is therefore asking the court to award him general, aggravated and exemplary damages, as well as GH¢15 million in compensation and legal costs.
He is also seeking an order compelling the defendants to issue a full, unconditional and unequivocal retraction and public apology.
The plaintiff wants the apology and retraction to be given similar prominence and reach as the original publication, including through JoyNews and the social media platforms where the comments were disseminated.
He is further seeking a permanent injunction preventing the defendants from repeating the alleged defamatory statements or words with a similar meaning.
The writ requires the defendants to enter an appearance within eight days after being served.
It warns that failure to do so could result in judgment being entered in their absence.
The case was filed by lawyer Paa Kwesi Abaidoo of Dehyena Chambers on behalf of Mr Afenyo Markin.
By: Jacob Aggrey
