AGRIBUSINESS INVESTMENT OPPORTUNITIES IN NORTHERN GHANA
This document was produced by USAID-Financing Ghanaian Agriculture Project (USAID-FinGAP), which is implemented by CARANA Corporation
This publication was produced by CARANA Corporation for the U.S. Agency for International Development and does not necessarily represent the views of the U. S. Government.
Introduction The USAID-Financing Ghanaian Agriculture Project (USAID-FinGAP) is a five-year project with the goal of increasing access to finance and investment in the rice, maize and soy sectors in the North of Ghana, and improving ancillary services so that agribusinesses can operate at full capacity and expand levels of food security in the country. Rapid urbanization and rising per-capita income in Ghana are driving significant increases in domestic demand for and consumption of staple crops and poultry products. Continued increases in consumption, as well as shifts in consumer preferences toward rice and higher-value processed foods, has opened a large gap between demand and current supply in the rice, maize and soy value chains. There is an opportunity to meet this growing demand through scaling up domestic production and competing with imports. Existing productivity is low, suggesting the potential for large returns if yields can be increased. Moreover, while food prices have fallen from their recent peaks, they are nevertheless expected to remain above historic levels in the medium term. The market opportunities in rice, maize and soy are substantial: Rice: Domestic consumption of rice is expected to grow significantly in 2015 and beyond, as consumer preference for rice over other grains increases. While Ghana currently produces nearly 400,000 MT of rice per year, the demand for rice necessitates the import of another 500,000 to 600,000 MT, a quantity that will likely increase as consumption further outpaces production. In addition, production of straight-milled, aromatic rice will also need to increase in order to meet the preferences of more sophisticated consumers. As such, there is strong potential for investment in the rice value chain as a means to stimulate local production. Maize is Ghana’s most widely consumed staple crop, and its production is a key component of Ghana’s food security agenda. While middle-class consumer preferences are shifting toward rice, continued population growth is also expected to strengthen the already high local demand for maize, which grew 8% per year from 2005 to 2009. In addition, while white maize remains more widely produced and thus more available in the market, yellow maize is a preferred key input into Ghana’s growing poultry sector, which serves as an additional market for local production. Yellow maize contributes to a more pronounced yolk color which is preferred by consumers. Poultry consumes about 400,000 MT of maize annually (approximately 40 percent of the maize marketed). The volume of high-quality yellow maize going into commercial poultry feed is about 200,000 MT. Roughly 150,000 MT of this is produced in Ghana, primarily in the Northern Region. Imports represent the balance of about 50,000 MT. The remaining 175,000 to 200,000 MT of maize required for feed is locally produced white maize. There is therefore an opportunity for import substitution of yellow maize for commercial poultry feed. If this were achieved, the poultry sector in Ghana could compete with the over 100,000 MT of imported, ready-to-cook chicken. If local broiler production were substituted for these imports, an additional 175,000 MT of yellow maize for poultry feed would be required. This result would present a greater opportunity for increasing Ghana’s maize market.
Soy: Local consumption of soy has grown rapidly, increasing 26% annually from over the last decade. This demand is being driven in large part by the use of soya meal as an input into poultry feed. Of the 150,000 MT of soy demanded annually in Ghana, approximately 75% goes into poultry feed. Soy oil is also in high demand by the paint industry, and there is limited demand for edible refined soy vegetable oil. Globally, soy demand has increased for both biodiesel production and as an input into livestock and poultry feed. Opportunities exist in Ghana to serve the growing local poultry industry (particularly if the broiler industry develops) through the production and processing of soy. The fish feed market represents a smaller, but higher margin investment opportunity than poultry This booklet includes a set of 14 agribusiness investment opportunities in Ghana’s north which have the potential to transform the competitiveness of the rice, maize and soy value chains and benefit thousands of smallholder farmers. Also included are brief profiles of qualified Business Advisory Service (BAS) providers who can be engaged to provide high-quality financial and investment services to agribusinesses looking for funding.
processing
1. Aninkor ah Farms An established poultry and egg farm seeks US$500,000 in working capital to purchase inputs to expand feed and poultry production.
Investment Value Deal Type
$500,000
Debt
Equity
Financing
Cap-EX
Market Opportunity
Urbanization, rising per-capita income, and increased consumption are driving significant increases in demand for poultry and eggs. Demand is outpacing domestic supply, creating opportunities for investment in local poultry producers and processors to expand production. According to the USAID Enabling Agricultural Trade (EAT) Ghana Assessment (the market for maize, rice, soy, and warehousing in Northern Ghana), the poultry sector in Ghana could compete with the over 100,000 metric tons (MT) of imported, ready-to-cook, broiler meat chicken. The guinea fowl value chain also presents strong opportunities in the poultry market: The Ministry of Food and Agriculture (MoFA) estimates that the current level of guinea fowl production is only 60% of the market demand.
Investment Opportunity
Aninkorah is a large-scale poultry farm outside of Kumasi that seeks to expand its already successful business. Having been in business since 1980,
INVESTMENT REQUIRED
In order to expand product lines, Aninkorah is seeking US$500,000 in debt, which will be used to purchase soy and maize feed inputs for additional layers and guinea fowl.
Working Capital
USAID FinGAP Environmental Risk Review completed
Aninkorah is well established. The company has 100,000 birds, including layers and infant layers, and guinea fowl for meat, and sells 45,000 eggs per day. Aninkorah has a number of fixed assets with capacity to expand. Its assets include three 2 MT per hour feed mills (with a total installed capacity of six MT per hour) and maize drying equipment, which are only being used to meet the company’s own feed needs (24–30 tons per day). Aninkorah also has ample storage space, with an underutilized warehouse that has capacity for 18,000 tons of cereal. It utilizes maximum 35% of storage capacity during the peak season of maize production or at harvest when prices are low. Otherwise, capacity utilization is just 10%–15%. The company’s growth is only limited by a lack of capital to purchase feed input supply (soy and maize) for more than 3 months stock. An injection of working capital would allow the company to capitalize on existing fixed assets and tap into growing demand for poultry and high-value guinea fowl meat.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
Next steps include engaging a business advisory services (BAS) firm to develop a full business plan and proposal for this investment opportunity, support supplier linkages, and facilitate the investment transaction.
ENVIRONMENTAL CONSIDERATIONS
A USAID FinGAP Environmental Risk Review (ERR) has been completed for Aninkorah Farms Limited.
Supporting Initiatives
There are a number of donor-supported initiatives to increase Map data ©2015 Google agricultural production in Northern Ghana that can be leveraged to support small farmers in expanding production and increasing yields, thereby ensuring a reliable supply chain for Aninkorah’s feed inputs, such as: • USAID Financing Ghanaian Agriculture Project (FinGAP) to support the company with linkages to BAS providers and 14 Partner Financial Institutions • USAID-supported Agricultural Development and Value Chain Enhancement (ADVANCE) Project • Savannah Agricultural Development Authority. In terms of the public sector: • The Ministry of Food and Agriculture and the Ghana National Association of Poultry Farmers have launched a 10-year Ghana Broiler Revitalization Project to boost local capacity in the production, processing, and marketing of broiler chicken. Selected farmers can receive day-old broiler chicks and feed to raise them for 8 weeks. The matured broilers will be bought by a nucleus farmer for processing, thereby providing a ready market for them.
Contact Info
Edward Maxwell Aninkorah, Managing Director, Aninkorah Farms Limited, +233 (0) 24 377 9686; +233 (0) 20 811 2918
Value chain: Poultry (Maize, and Soy)
produc tion
2. Arima Farms Ghana Limited (AFGL) Limited irrigation in Northern Ghana presents an opportunity for f inancing and investment in improved technologies for expanded maize, rice, and soy production, as well as the introduction of a nucleus farm scheme. Investment Value Deal Type
Debt
$2,300,000 Equity
$25,000,000 Financing
Cap-EX
Working Capital
Market Opportunity
USAID FinGAP Environmental Risk Review completed
Maize, rice, and soy are in high demand, thanks to the fast-growing and urbanizing population of Ghana. Demand significantly exceeds current production capacity, in part due to low agricultural yields caused by rain-fed production on small plots of land. Meeting the country’s future staple food production requirements necessitates use of new irrigation systems, but these are expensive and challenging for small farmers to finance. In addition, small-scale farmers lack equipment to prepare land to cultivate staple food crops, and they lack the ability to access quality inputs (mainly seeds and fertilizer) required to meet the production and quality targets required by buyers offering the highest premiums. There is a compelling business case for investment in firms that can expand yields by both introducing new technologies and supporting local partners to meet production requirements.
from two financial institutions in India, which will enable the scaling of the operations from the current 500 ha to 2,000 ha. This will include investment in center-pivot irrigation systems, land preparation, harvesting and postharvest mechanization systems, and construction of warehouses. The company has off-take agreements with processors including AVNASH for rice and Vester Oil Mills Limited for soy.
Investment Opportunity
Arima Farms envisages that 50% of the farmland will be given to outgrowers. These farmers are people from the surrounding communities, some of whom have already been engaged on the initial farmland under cultivation. Approximately 40% are women. As part of its social responsibility, it will facilitate establishment of school and health facilities for the surrounding communities to be employed on the nucleus farm or to serve as outgrowers.
Arima Farms is a commercial farm operation ready to initiate a 7,000 hectare (ha) irrigation project in the Northern Region for rice, maize and soy production. The company has cultivated 500 ha of its 7,000 ha (contiguous) land in Yapei in the Northern Region, and is looking to eventually put the rest of its uncultivated land under production. Arima Farms is on the verge of closing a US$2.3 million credit facility
INVESTMENT REQUIRED
Arima Farms requires US$25 million for a mix of short-term and longer-term working capital and capital expenditure financing (debt and equity mix) to finance land and infrastructure development (a 20,000 MT storage facility and a center-pivot irrigation system), technology and machinery (harvesters, tractors, and accessories), and inputs (seeds and fertilizers).
Arima Farms is interested in pursuing a nucleus farm model, in which it would expand existing production services and new technologies to outgrower farmers and farmer associations in the three value chains and provide input financing, land preparation, irrigation, a secure market, storage, and processing. The proposed outgrowers’ site is adjacent to Arima Farms’ 7,000 ha.
Northern
Location
Identified Acquired
✓ ✓
BAS NEEDED
BAS were effectively used by Arima Farms in 2014–2015 to obtain the US$2.3 million in credit about to be closed from two financial institutions from India. Follow-on BAS are needed to facilitate the remaining US$25 million in required finance.
ENVIRONMENTAL CONSIDERATIONS
A USAID FinGAP ERR has been completed for Arima Farms.
Supporting Initiatives
Map data ©2015 Google
There are a number of donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as: • African Development Bank’s Northern Rural Growth Project • Savannah Agricultural Development Authority. The University of Development Studies will partner in the provision of training and agricultural extension services to outgrowers, and an Israeli firm has been identified to provide land development and irrigation infrastructure consulting services. In terms of the public sector: • Delivering sufficient and consistent electric power to major production hubs is a critical role for the public sector. • To support rapid expansion of agricultural production of staple foods, the government can intensify its efforts to facilitate land acquisition and land use, prioritizing small farmers connected to nucleus farms and processing facilities. Arima farms has signed a memorandum of understanding (MOU) with John Deere for the latter to provide tractor and equipment servicing to the company, and to train Arima’s staff on how to do this after the tenure of the agreement.
Contact Info
Rtn KC Echilarasan, Chairman, +233 (0) 261 029114; Ms. Saalai Manikam, Managing Director, +233 (0) 261 029115 Value chain: Maize, Rice, and Soy 5
input, processing
3. Boris B Farms and Veterinary Supplies Limited A major distributor of poultry feed, egg trays, and poultry equipment is seeking US$16.24 million to develop an integrated chicken processing plant, and up to US$60 million for its long-term expansion and diversif ication plan. $16,240,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Market Opportunity
Given Ghana’s fast and growing demand for chicken and the lack of chicken processing plants operating on a commercial basis, there is a significant market opportunity for investment in agribusinesses that take an integrative approach to chicken production and supply. Consumption of chicken meat in Ghana has experienced continuous growth over the past two decades. While demand for chicken has grown 4% annually since 2000, reaching 250,000 tons per year by 2012, local supply has declined from 90% in the mid-1980s to the present level of below 10%. The current gap of about 90% translates to approximately 225,000 tons per annum, of which almost 70% (157,000 tons) is imported. In value terms, total chicken imports by Ghana cost annually an average of between US$197 million and US$200 million.
Investment Opportunity
Boris B Farms and Veterinary Supplies (Boris B) supplies feed, additives, equipment, and drugs for poultry and pig production and also operates a
INVESTMENT REQUIRED
Boris B is seeking US$16.24 million to develop a state-of-the-art chicken processing plant, as well as US$60 million in debt to finance its medium-to-long term project to establish and operate a feed mill that will produce high-quality, affordable, pelletized feed for the poultry industry. This will support the Ghana Broiler Revitalization Project by alleviating the burden of mixing by the farmers without compromising quality. Boris B also plans to establish and operate a poultry farm as part of the company’s vertical integration drive to further improve quality poultry production in Ghana.
$60,000,000 Working Capital
USAID FinGAP Environmental Risk Review required
poultry farm. Boris B has eight branches in Ghana, two agencies in Togo and Cote d’Ivoire, and a subsidiary in the United States. Boris B is currently the sole sponsor and financier of the Ghana Broiler Revitalization Project, launched in partnership with the Ministry of Food and Agriculture and Ghana National Association of Poultry Farmers, which is designed to boost local capacity in the production, processing, and marketing of broiler chicken. Boris B has earmarked 1 million broiler birds for the first phase of the initiative. In year one, the project produced 300,000 birds for the local market, falling short of its target of 5 million birds. The proposed project will generate an estimated 43 direct jobs, with a potential to double that number with increased production in subsequent years, and will lead to jobs for cold stores, chicken traders, and other indirect employment.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
BAS that may be required includes business planning, raising financing for the project, and business and financial management systems installation.
ENVIRONMENTAL CONSIDERATIONS
An ERR has not yet been undertaken. Biogas plants in poultry clusters are planned to turn poultry waste into energy and organic fertilizer.
Supporting Initiatives
Map data ©2015 Google
There are a number of donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as: • USAID FinGAP to support the company with linkages to BAS providers and 14 Partner Financial Institutions. In terms of the public sector: • The Ministry of Food and Agriculture and Ghana National Association of Poultry Farmers’ 10-year Ghana Broiler Revitalization Project will boost local capacity in the production, processing, and marketing of broiler chicken. • The public sector can provide support with respect to regulations and permits, e.g., the Environmental Protection Agency (EPA) for environmental impact assessment and permit, Food and Drugs Board (FDA) for certification of products, and Ghana Standards Authority (GSA) for certification of standards.
Contact Info
Boris Baidoo, Managing Director, 0244370697, bbwv@hotmail.com
Value chain: Poultry (Maize, and Soy)
4. Farmers Hope Company Limited input
An organic fertilizer supplier is seeking US$800,000 in debt, equity, or a mix of both, in order to expand production and meet untapped market demand for fertilizer. $800,000 $1,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
Ghana’s growing agricultural sector is underserved with respect to access to inputs, such as fertilizer. While the government-supported fertilizer market is worth over US$15 million annually of the total national fertilizer market of US$160 million, about 40% of farming communities are not able to access the government-subsidized fertilizer program. The cost of these fertilizers is too high for farmers, and many farmers are concerned about the negative effects of the continuous application of the chemicals on their land.
Investment Opportunity
Farmers Hope Company Limited (FHCL) provides a viable alternative for farmers that require fertilizer to expand yields, given FHCL’s very high-quality and affordable products. FHCL has significant room for
INVESTMENT REQUIRED
FHCL seeks US$800,000 in debt, equity, or a mix of the two, to procure machinery and expand production, in order to meet market demand for its fertilizer. The financing would be used to procure pellet machines, establish a power plant, and procure inputs needed for the 2015–2016 farming season.
USAID FinGAP Environmental Risk Review required
expansion, as it can only serve 4.7% of the farmers in Ghana at present. This translates into 500,000 farmers annually with four 50 kg bags of organic fertilizer each. FHCL estimates that an internal rate of return (IRR) of more than 55% is achievable for any investor over a period of 3 years. In addition, there are high social returns tied to this investment, given its potential to support farms to access critical inputs. It would also generate direct employment, as it would enable the firm to expand its employees from 6 to about 30. FHCL estimates that indirect employment generated could be upwards of 200. In addition, deposits of agricultural waste, such as rice husk, cocoa pods, and poultry manure generated across the country would be converted to organic fertilizer.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
FHCL has contracted Growth Mosaic, a BAS provider, to support the firm in attracting investment. Additional BAS services could be used to support market penetration in northern Ghana.
ENVIRONMENTAL CONSIDERATIONS
An ERR needs to be undertaken, however the company’s operation helps to control waste deposits in the environment by converting agricultural waste products into organic fertilizer.
Supporting Initiatives
Map data ©2015 Google
There are a number of donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as the Northern Rural Growth Project, USAID ADVANCE II, and USAID Agriculture Technology Transfer (ATT) Project. In terms of the public sector: • MoFA and Cocoa Inputs Company can encourage farmers to use organic fertilizer. The role of Ghana Agro Input Dealers Association (GAIIDA) in facilitating distribution of organic fertilizer is crucial for enhancing adoption by farmers.
Contact Info
Akwasi Osei-Bobie Ansah, 024-316-3824, osbobie2@gmail.com
Value chain: Maize, Rice, and Soy 7
processing
5. Golden Web Insuff icient working capital to source inputs, presents an opportunity to capitalize on underutilized existing f ixed assets and create sustainable demand for Northern soy production. $1,000,000 $3,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
Investment Opportunity
INVESTMENT REQUIRED
ASHANTI
Urbanization and income growth are stimulating demand for poultry and eggs, and therefore soy cake, a key input for poultry feed. The current supply of processed soy cake is unable to keep up with market demand. Installed capacity for soy cake production is greatly underutilized, and poultry producers consistently complain of insufficient supply from local processors. The projected growth of the poultry industry, particularly as companies move into broiler production, ensures that demand will persist, creating promising opportunities for investors to capture this expanding market.
Golden Web requires US$1–3 million working capital injection to boost purchase of inputs and enable capacity utilization. Financing could come from a bank loan or an equity stake in the company.
USAID FinGAP Environmental Risk Review required
Golden Web is a soy processor in Kumasi that has been operational since 1994. It produces soy cake, refined soy vegetable oil for human consumption, and crude oil for the paint industry. Golden Web has two facilities in Kumasi and sources all of its raw soy from suppliers in the North. The firm has installed capacity to process 30 tons per day (using its own extrusion equipment), but is currently running at 15–20% capacity due to insufficient working capital to purchase inputs. Golden Web also has nearly 1,000 tons of unused storage capacity. If Golden Web had sufficient working capital to run closer to full capacity, it would buy up to 6,000 tons of additional soy per year from smallholder soy farmers in the North.
Location
Identified Acquired
✓ ✓
BAS NEEDED
Golden Web requires a BAS to restructure a US$1.25 million nonperforming loan the firm has with Ecobank Ghana Ltd, either through refinancing, negotiating with Ecobank, or working out a feasible repayment schedule. The loan was originally for US$700,000, but without the working capital to increase its production and sales it has been unable to service this loan, and the interest (over 30% per year) has built up. Golden Web already has a business plan in place for its production. It has BDS helping to refine this business plan, conduct due diligence and sensitivity analysis on projections, and assist the company to become bankable for potential investment. Other support could include market linkages with suppliers, to ensure reliable increased supply.
Map data ©2015 Google
ENVIRONMENTAL CONSIDERATIONS
An ERR needs to be completed for this investment.
Supporting Initiatives
There are a number of donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as: • USAID-supported ADVANCE Project • Savannah Agricultural Development Authority • Ghana Commercial Agricultural Project, financed by USAID and the World Bank.
Contact Info
Golden Web Managing Director: Thomas W. Bello +233 (0) 24 441 0049, +233 (0) 32 203 0923, +233 (0) 54 443 4689, info@goldenwebgh.com, twbellow@yahoo.com
Value chain: Soy
produc tion, aggregatoin
6. GOVPAMA A female-dominated value chain oriented umbrella group is seeking for US$4.6m to improve access to mechanization systems for its members to increase productivity $3,500,000 $4,638,262
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
Demand for soybean and maize is strong, creating lucrative business opportunities for players along these value chains. Moreover, the Government of Ghana broiler revitalization project has provided market opportunity for farmers to increase production through use of effective and efficient systems. However, the pace and scale of agricultural investment is constrained by limited access to financial and technical resources among supply chain partners, particularly smallholder farmers. In order to take advantage of the market opportunities in maize, soybean, small holder farmers require access to high yielding and quality seed, mechanized land preparation, production and postharvest facilities. The Ghana Organic Vegetable Producer and Marketing Association (GOVPAMA) is playing that role profitably. There is opportunity for GOVPAMA to increase its capacity to reach out to its members to facilitate timely access to these services to take up the growing market opportunity.
Investment Opportunity
GOVPAMA is an umbrella group of approximately 56,000 members, over half of which are women, who are active in the production, storage, processing and marketing of cereals, legumes and vegetables. GOVPAMA supports its members to increase productivity by providing them with production and postharvest mechanization services, and supply of inputs such as organic fertilizers. Collectively, GOVPAMA
INVESTMENT REQUIRED
GOVPAMA is planning total investments of over US$3m – US$5m made up of assets and working capital. These financing are expected to be obtained through debt and equity financing depending on availability, interest rates and the repayment terms. Out of the total investment cost of US$4,638,362, it is expected that US$3,404,000 will be financed with loan from a financial institution. US$ 1,234,362 is financed from GOVPAMA’s equity and this is in the form of mainly existing investments including farmlands, farming tools and cash of US$ 1,262. The Debt to Equity Ratio is 2.67 of 73.4% debt to 26.6% equity.
USAID FinGAP Environmental Risk Review completed
members are cultivating a total of 18,000 acres of maize and soybean, and approximately 1,000 MT of rice for the domestic market. GOVPAMA has a stable market for their goods. There is market for all GOVPAMA’s produce and products on all major marketing centers in the country. It continues to explore new markets, especially medium to large scale soybean and processing companies. It has signed contracts with some of them including 3,000 MT soybeans to Ghana Nuts Limited, 20,000 MT maize and 10,000 MT soybeans to Naaflim Company Limited, a poultry farmer, among others. Moreover, there have recently been requests from some of the major supermarkets to supply them with some of their produce. The Government of Ghana broiler revitalization project has also provided another market opportunity for GOVPAMA to increase its production to meet the consequential demand for maize and soybeans as feed for the poultry farms. In order to better serve their members, and tap into new market opportunities, GOVPAMA is seeking funding for investments in irrigation, tractors and accessories, purchase of a harvester, haulage trucks, and warehousing facilities.
Northern Brong Ahafo
Location
Identified Acquired
✓ ✓
BAS NEEDED
GOVPAMA could benefit from Business Advisory Services to help them obtain a loan from a financial institution.
ENVIRONMENTAL CONSIDERATIONS
An environmental assessment has been undertaken by the Environmental Protection Authority (EPA) and USAID-FinGAP, without any negative determinants identified.
Map data ©2015 Google
Supporting Initiatives
There are a number of donor and government initiatives which support the feasibility of this investment, including: Savanna Accelerated Development Authority, Northern Rural Growth Project, USAID-ADVANCE II and USAID-Agriculture Technology Project.
Contact Info
GOVPAMA, Nana Yaw Aduebo II, Board Chairman, 024 979 66 01 / 054 939 2090 / 0506 900 2543 govpama188@yahoo.com.
Value chain: Soy 9
7. Intercontinental Group Ltd input
Increased demand for soy and rice presents an opportunity for investing in staple food aggregation and expanded input provision. $2,000,000 $4,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
It currently works with over 16,000 women who pick shea but also have maize farms. Intercontinental Group Ltd provides these farmers with capacity building and seeds and fertilizers on credit, which the farmers payback in kind when they harvest. The agribusiness is currently a supplier to major international organizations including World Food Program, as well as local firms such as Buffer Stock Company. The firm is looking to expand its storage and processing capacity in order to increase its throughput. Intercontinental Group Ltd estimates that more than 16,000 women would benefit from the investment.
Many small-scale farmers lack access to quality inputs, such as seeds and fertilizer, and are severely underserved in terms of financing for these items. Increased demand for soy and rice provides an opportunity to fill these needs through investment in agribusinesses that can provide farmers affordable access to inputs, storage, and a reliable offtake market.
Investment Opportunity
Intercontinental Group Ltd is an agribusiness in Northern Ghana that imports and supplies inputs to outgrower farmers and exports produce.
INVESTMENT REQUIRED
Intercontinental Group Ltd seeks US$2.0 million to US$4.0 million for capital expenditure to construct warehouses and working capital to aggregate rice and maize and sell to institutional buyers. The company is interested in debt, equity, and grant funding.
USAID FinGAP Environmental Risk Review required
Northern
Location
Identified Acquired
✓ ✓
BAS NEEDED
Intercontinental Group Ltd is working with DAB Consult, a BAS provider, to identify financing best suited to its needs.
ENVIRONMENTAL CONSIDERATIONS
An ERR needs to be completed for this investment.
Supporting Initiatives
There are a number of government- and donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as: • USAID-supported ADVANCE Project • Savannah Agricultural Development Authority • Ghana Commercial Agricultural Project financed by USAID and World Bank.
Contact Info
Nash Suleman, CEO, 0208 171665/0244601924, nashcompany@yahoo.com
Value chain: Maize, and Rice
Map data ©2015 Google
processing
8. Jok as Farms Ltd An established poultry farmer seeks investment to f inance its expansion plans and meet growing demand for table eggs and broiler production. $2,680,000
Investment Value Deal Type
Debt
$6,000,000
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
It is projected that the Government of Ghana’s (GoG) support to facilitate development and growth of the poultry industry through the Ghana Broiler Revitalization Project will create a market for local poultry products of about 60 million bird-equivalents. The continuous growth of chicken meat consumption in Ghana over the past two decades has led to the import of approximately 140 million bird-equivalents of poultry products, which has prompted the Government of Ghana to encourage importers to procure 40% of their imports from the local market instead. Thus it is anticipated that a market of approximately US$80 million will be available for poultry industry participants, including Jokas Farms, to tap into.
Investment Opportunity
Jokas Farms Ltd has been in the poultry production business since 1962, producing eggs and broiler meat which it supplies to hotels, restaurants, retail shops, and directly to households. Jokas Farms currently has 50,000 layers and produces approximately 40,000 eggs a day and 50,000 broilers per year. It intends to increase the total layer and broiler population to meet the growing demand for table eggs and broiler meat. The company has four sites, one at Abrepo Tekese and three at Esaaso, off Kumasi to Barikese road, Ashanti Region. As a part of its expansion plan, Jokas
INVESTMENT REQUIRED
Jokas Farms is looking for US$2.68-6 million in investment to be used for acquisition of breeder farm and a hatchery, construction of modern shelters for the broiler and layer farm, raising of birds (broilers and layers) through the outgrower farms, and animal nutrition through construction of poultry feed mill. US$2.68 million is sought in the short term, 80% of which will be used for fixed capital investment, with the remainder for working capital. An additional US$6 million will be needed in the medium term to finance Jokas Farms’ expansion project.
USAID FinGAP Environmental Risk Review required
Farms plans to fully migrate its operations to a newly acquired site at Esaaso. The company is planning an integrated approach to farming that will significantly increase its bird population. In order to meet growing demand for table eggs on the local market, Jokas Farms is looking to increase its layer population from 50,000 to 100,000 in the short term, and 200,000 birds in the medium term. Jokas Farms aims to increase its annual broiler production to 100,000 and 240,000 in the short and medium terms, respectively. Jokas Farms also seeks to invest in a hatchery to produce day-old chicks (DOCs) for its layer and broiler projects and to provide hatchery services to other poultry firms. The company would produce 50,000 DOCs per week in the short term and increase it to 100,000 per week in the medium term. The company will establish new state-of-the-art feed mill to formulate and produce feed for the birds. The proposed investment would increase the current feed production from 50 MT per week to 300 MT per week for its poultry farm and for sale to other poultry farmers. These would consequently increase its demand for maize and soybean and therefore require expansion of its storage facility. Moreover, it would need to expand its network of suppliers of these raw materials who are predominantly women aggregators.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
Jokas Farms Ltd has contracted with KPMG to provide business advisory services, including an operational and commercial review of the existing business and a review of the corporate vision for the future.
ENVIRONMENTAL CONSIDERATIONS
Map data ©2015 Google
Key considerations include management and disposal of bird droppings, and control of byproducts emanating from the feed mill into the atmosphere in powder form.
Supporting Initiatives
There are a number of initiatives that support the feasibility of this investment, including the Ghana Broiler Revitalization Project. The public sector can play an important role by: • Making sure that importers of poultry products source 40% from the local poultry farmers • Enforcing the company’s environmental management plan to minimize environmental load.
Contact Info
Kwame Agyeman Tuffour, CEO, 0208120398, mdjokas@yahoo.com
Value chain: Poultry, (Maize, and Soy) 11
processing
9. K. Asante Farms A well-established layer farm seeks US$3.2 million to expand its production and develop a broiler plant to compete with imported chicken meat. $3,200,000 $4,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
Investment Opportunity
INVESTMENT REQUIRED
ASHANTI
Given changing consumption patterns and increased demand for eggs and poultry, there is ample opportunity to capture high-value processing in Ghana via import substitution. In July 2014, the Government of Ghana, through the Ministry of Food and Agriculture and the Ghana National Poultry Farmers Association, launched the 10-year Ghana Broiler Revitalization Project to boost local poultry production. According to the USAID EAT Ghana Assessment, the poultry sector in Ghana could compete with the more than 100,000 MT of imported, ready-to-cook, broiler chicken meat. Furthermore, it is estimated that the substitution of local broiler production for ready-to-cook chicken imports would require an additional 175,000 MT of yellow maize for poultry feed, and will roughly double the domestic soybean market, creating major opportunities for farmers in these value chains.
K. Asante Farms requires about US$3.2 million in financing (combining equity and debt) to procure the processing and packaging facility and cold trucks, and extend the existing farm to be able to increase the bird population.
USAID FinGAP Environmental Risk Review required
K. Asante Farms, a poultry farm based in Kumasi, aims to capitalize on this import-substitution opportunity by expanding its egg production and moving into broiler production and meat processing. K. Asante is a well-established farm that has been in business for 10 years and is managed by the Chairman of the Ghana National Poultry Farmers Association. In 2014, K. Asante was able to increase its bird population from 20,000 to 22,000 including about 12,000 layers for egg production. K. Asante Farms wants to increase bird population to 200,000 over the next one and half years and to 1million in 5 years with 50% of those birds produced through an out-grower scheme. He also intends to establish a poultry processing plant, build a chain of distribution outlets, and increase egg production. This opportunity has high potential for development impact, because Asante purchases feed inputs from local soy processors (such as 3K and A Industries, Vester Oil Mills Limited) and maize from aggregators (Odeasempa Cooperative) who source from northern Ghana.
Location
Identified Acquired
✓ ✓
BAS NEEDED
Next steps for realizing this investment include connecting K. Asante Farms with a BAS provider that can help refine Asante’s business plan, conduct due diligence and sensitivity analysis on projections, and recommend equipment for purchase. A financial facilitator should be engaged to support Asante to access and structure appropriate financing.
ENVIRONMENTAL CONSIDERATIONS
Key considerations include management and disposal of bird droppings, and control of byproducts emanating from the feed mill into the atmosphere in powder form.
Map data ©2015 Google
Supporting Initiatives
There are a number of donor-supported initiatives that could be leveraged to support the development of a competitive sector: • Ghana Broiler Revitalization Project • Technical assistance to improve production and value chain efficiencies, and ensure an adequate supply of feed inputs at stable prices • Development of an “eat local” poultry campaign by the Ghana National Poultry Farmers Association in partnership with the GoG. Complementary investments in cold chain logistics will be needed for distribution. The public sector can play an important role by: • Making sure that importers of poultry products source 40% from the local poultry farmers • Enforcing the company’s environmental management plan to minimize environmental load.
Contact Info
Mr. Kwadwo Asante, Managing Director, K. Asante Farms Limited, +233 (0) 20 811 9440, (0) 24 328 7972, (0) 50 443 4241, +233 (0) 23 305 3835, kael15gh@yahoo.com
Value chain: Poultry (Maize, and Soy)
aggregation
10. Nana Achiaa A woman-owned and -operated maize aggregation f irm is seeking US$200,000 in working capital to expand and meet market demand for maize production. $50,000 $200,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Working Capital
Market Opportunity
Urbanization, rising income, and changing consumption patterns are driving increased demand for poultry and eggs, and therefore for soy and maize, which are key inputs for the poultry sector. Barring any injunction against the consumption of poultry as a result of poultry disease, the fledgling poultry industry in Ghana is expected to continue booming. This, coupled with favorable government policy initiatives, is causing maize aggregation and supply businesses such as Nana Achiaa Maize Aggregation Enterprise to flourish.
Investment Opportunity
Nana Achiaa Maize Aggregation Enterprise, a female-owned and -managed maize aggregation firm that has been in business for more
INVESTMENT REQUIRED
To meet current supply contract demands, Nana Achiaa seeks between US$50,000 and US$200,000 in debt at an interest rate of no more than Libor+1 exclusive of all hedging costs (if a USD facility), or its corresponding Ghana Cedi equivalent with a reasonable interest rate. It will be used to expand, to supply an additional 300 MT of maize to Boris B Farms, Victor Owusu Farms, and Fosuka Farms in the Ashanti Region. Securing working capital will also potentially create growth in the maize production, haulage, and poultry value chains, allowing Nana Achiaa to expand supplier credit advanced to her outgrowers.
USAID FinGAP Environmental Risk Review required
than 12 years under the leadership of Nana Achiaa, employs over 13 staff members and works with more than 100 maize outgrowers in Ghana. Located at Asawase Market, Kumasi, the enterprise purchases approximately 6,000 MT of maize annually from northern Ghana, as well as from Burkina Faso and other maize-producing areas, and supplies it to poultry farmers. To date, Nana Achiaa has supply contracts with over ten poultry farmers in the Ashanti Region, including such poultry giants as Boris B Farms & Veterinary Services, Aninkorah Farms, and Victor Owusu Farms. Aninkorah Farms, currently producing 100,000 birds including chicken and guinea fowl, has contracted Nana Achiaa for the monthly supply of 100 MT of maize. With the constant demand for maize of the poultry industry that fuels large volumes of trade, Nana Achiaa is a profitable aggregator.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
BAS needed include review of the accounting and bookkeeping records of Nana Achiaa, and loan facilitation services.
ENVIRONMENTAL CONSIDERATIONS
An ERR has not yet been conducted for Nana Achiaa Maize Aggregation Enterprise.
Map data ©2015 Google
Supporting Initiatives
The Ghana Broiler Revitalization Project, which seeks to facilitate a 40% quota on local poultry production, creates opportunity for industry participants. Projects supported by GoG and donors are introducing farmers to improved maize production and postharvest technologies.
Contact Info
Nana Achiaa, Proprietor, 024 358 1319
Value chain: Maize 13
processing
12. Nuts for Growth Growing demand for poultry feed and edible oils in the midst of Ghana’s energy def icits presents an opportunity for a brownf ield investment in a poultry feed mill, a shea and soy crushing plant, an oil ref inery, and a biomass energy plant. $45,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Market Opportunity
Current and projected growth in the poultry sector has increased demand for maize meal and soy for poultry feed, particularly as companies move into domestic broiler production. This has created a stable market to support investment in animal feed production facilities. Processing investments in the North can take advantage of close proximity to producers in the North, thereby reducing the logistics costs otherwise incurred when transporting raw materials to processing sites in other regions or importing inputs from abroad.
Working Capital
$50,000,000
USAID FinGAP Environmental Risk Review required
raw shea nuts and soya beans into oil. Nuts for Growth intends to use the biomass from shea nut processing for biomass production, to generate up to 9.5 megawatts of electricity that can help power the processing facilities. Plans for this brownfield venture are relatively developed, and started with construction of a warehouse of 6,000 square meters in 2014.
Investment Opportunity
Nuts for Growth has a strong social responsibility mission, seeking to improve rural livelihoods, particularly for women, in the North of the country. The firm’s growth plans also include complementary storage infrastructure to take advantage of the close proximity of raw material inputs, reduce transit times, and support a shared value mission with shea collectors and soy producers. This initiative will create a sustainable market for shea nuts, soy, and maize as inputs to the crushing plant, green energy plant, and feed mill, and will provide a significant new employment opportunity for women in the North.
INVESTMENT REQUIRED
Northern
Nuts for Growth Limited was established in 2013 and has made a name for itself in the soybean and shea processing sectors. To capitalize on the demand created for feed by the growing poultry industry and for edible oils, its plans include establishing a poultry feed mill in the Tamale area for guinea fowl and chicken, and a crushing plant and oil refinery to process
Identified ✓ Location Acquired ✓ Nuts for Growth is seeking a total of US$50 million in investment over the next 5 years for its three-phase expansion plan. This investment will include both capital expenditure to set up facilities and working capital, and could take the form of a joint venture and/or equity funding venture, strategic investor, or impact investor. In the first phase now underway, the company has issued local currency bonds, expecting to raise about US$6 million to purchase equipment to crush soy beans and shea nuts. The company will use about 30% of its shea cake to generate steam for the crushing process. Part of the cake will be made into briquettes to be supplied to its over 27,000 women who supply soybeans and shea kernel to it, to use in domestic cooking in place of firewood, which has negative deforestation and other environmental consequences. This investment could possibly take the form of a joint venture. In the second phase (beginning 2016 to mid-2017), the company expects to raise a US$22 million loan to procure a refinery for Map data ©2015 Google processing soybeans and shea kernel, as well as a poultry feed plant. Also in the second phase, Nuts for Growth projects that it will run two separate processing units for soy and shea. The soy processing plant will supply two principal markets. First, the company will supply soy cake for the existing and growing poultry market in Ghana. Second, Nuts for Growth will develop an outgrower guinea fowl scheme and will provide parent stock, hatchery, vaccines, and feed to these outgrowers. In return, Nuts for Growth will purchase live guinea fowl birds, and will process and market them on the Ghanaian market. Nuts for Growth expects, in phase three (2017–2019), to raise a US$20 million loan to procure equipment to generate electric power from biomass for the plant. As Ghana’s electricity supply has become erratic and unreliable, Nuts for Growth intends to generate enough electricity to keep its operations going. The remaining 70% of the shea cake will be used to generate electricity for the processing plant. The company also intends to produce fertilizer from its byproducts.
BAS NEEDED
This opportunity will require detailed business planning along with investor matchmaking, structuring of any potential joint venture, and facilitation of finance. Nuts for Growth is working with Joemelu Company Limited, a firm within the USAID FinGAP BAS Providers network, to access finance for its business development enterprises. Joemelu will continue to support the company in developing the strategy and paperwork to obtain short-term financing, and in finding an appropriate equity, joint venture, or impact investor partner.
ENVIRONMENTAL CONSIDERATIONS
The solid waste from the processing plant will be fed into a system to generate electric power for the company’s activities. An ERR will be required to determine the level of environmental risk related to this investment. Construction of infrastructure tends to be moderate to high risk, but risk will be determined during further screening of this investment and ERR preparation.
Supporting Initiatives
There are a number of donor-supported initiatives to increase agricultural production in Northern Ghana which can be leveraged to support production advances of small farmers, such as: • USAID-supported ADVANCE Project • Savannah Agricultural Development Authority • Ghana Commercial Agricultural Project, financed by USAID and the World Bank. In terms of the public sector: • Delivering sufficient and consistent power to major production hubs is a critical role for the public sector. • To support rapid expansion of agricultural production of staple foods, the government can intensify its efforts to facilitate land acquisition and land use, prioritizing small farmers connected to nucleus farms and processing facilities. • Government should enforce the company’s environmental management plan to minimize environmental load.
Contact Info
Kofi Kwakwa, Director, +233 242 686 837, kkwakwa@sagevesholdings.com
Value chain: Soy 15
processing
13. SKY-3 Farms An established agribusiness seeks US$1.5–$2 million in investment to expand into cornflake production. $1,500,000 $2,000,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Market Opportunity
Working Capital
Urbanization and changing consumption patterns have created strong and growing markets for processed foods, many of which require maize as an input. The cornflake market in Ghana provides many untapped business opportunities, as most of the cornflakes sold domestically are imported. The price of the imported cornflakes is about US$6 per kg, whereas domestically produced cornflakes would cost approximately US$2 per kg. Low-cost cornflakes fortified with soya have a ready market at schools, where they can serve as a substitute for foods like gari, which have lower nutritional value.
INVESTMENT REQUIRED
Sky-3 Farms is seeking US$1.5 million to US$2.0 million in start-up funding to expand into cornflake production. Financing is needed to conduct a feasibility analysis, for working capital, and for capital expenditure to set up a facility.
USAID FinGAP Environmental Risk Review required
Investment Opportunity
Sky-3 Farms is an agribusiness located in Kintampo in the Brong Ahafo Region that is looking to take advantage of this import-substitution opportunity by moving into cornflake production. Sky-3 Farms has a 100 acre maize farm at Kintampo with an additional 100 acres for expansion. In operation since 2011, Sky-3 Farms started as an aggregation business, but was later transformed into an agribusiness center following the collapse of the tobacco industry in Kintampo. The farm produces maize and cowpea, and provides storage, drying, cleaning, and marketing services. Through its outgrower scheme, the company provides tractor services to over 295 maize farmers with 1,500 acres, and 115 rice farmers with 500 acres.
Brong Ahafo
Location
Identified Acquired
✓ ✓
BAS NEEDED
Sky-3 Farms is currently working with a BAS provider who is helping the firm develop a business plan for maize production, grain drying and storage, preparation of feasibility studies for the production of corn flakes, and to secure a loan facility for the set-up of the production plant.
ENVIRONMENTAL CONSIDERATIONS
An ERR is required to determine the level of environmental risk associated with this investment. Infrastructure construction tends to have moderate to high risk, but risk will be determined during further screening of this investment and preparation of an ERR.
Supporting Initiatives
There are a number of government and donor-supported initiatives that could be leveraged to support this investment: • Ghana Export Development Investment Fund, for which Sky-3 Farms is a nucleus farm • USAID-supported ADVANCE Project • Savannah Agricultural Development Authority • Northern Rural Growth Project.
Contact Info
Kwasi Etu-Bonde, Proprietor, +233-268151375, +233-208151375, kebonde@yahoo.com
Value chain: Maize
Map data ©2015 Google
14. Wumpini Agro Chemical input
Signif icant demand for affordable agricultural inputs provides an opportunity for investing in a leading agrochemical dealer with a vision to expand. $1,500,000 $2,600,000
Investment Value Deal Type
Debt
Equity
Financing
Cap-EX
Market Opportunity
Working Capital
USAID FinGAP Environmental Risk Review required
The high cost of inputs for agricultural production, combined with the efforts of GoG and donors to develop major crop value chains, have created enormous opportunities downstream for agricultural inputs. In recent years, demand for chemical fertilizers, herbicides, and insecticides has been growing annually by an estimated 15%, 20%, and 12% respectively.
Wumpini Agro Chemical’s suppliers have struggled to meet its demand and deliver products on time. The company now has an opportunity to import inputs directly, and major global manufacturers are looking to partner with Wumpini. The company requires financing to import large quantities of fertilizers, herbicides, and insecticides to be able to offer competitive prices to its clients. It also requires multi-crop shellers, tractors, and accessories to scale up its seed production.
Investment Opportunity
Wumpini continues to build on its longstanding relationship with smallholder farmers and FBOs as well as on its aggressive marketing communications, personal selling, and wide community-based sales networks to remain the market leader. Importing directly from the manufacturers will strategically position the company to capture the many small district-based agro-input dealers by providing them with the most competitive offer available in Northern Ghana.
Wumpini Agro Chemical has set out to achieve its vision of capturing the market for agricultural inputs in the Upper East Region. The company was established in 2003 and has over 10 years of experience dealing in agro-inputs. On average, Wumpini Agro Chemical sells over 99,000 MT of various fertilizers, 330,000 liters of herbicides, and 60,000 MT of insecticides annually to over 200,000 smallholders and farmer-based organizations (FBO) involved in agricultural production.
INVESTMENT REQUIRED
Wumpini Agro Chemical requires US$1.5 million to US$2.6 million for capital expenditure (warehouses) and working capital to procure agro-inputs and equipment. The company is interested in both debt and equity.
ASHANTI
Location
Identified Acquired
✓ ✓
BAS NEEDED
Wumpini Agro Chemical has hired CSLD, a BAS provider, to support the firm in accessing appropriate financing/investment.
ENVIRONMENTAL CONSIDERATIONS
Wumpini must implement its environmental management plan and the USAID FinGAP Safe Use Action Plan for the agro-inputs that it distributes to farmers.
Supporting Initiatives
Wumpini’s business prospects will be enhanced by continued support from GoG and donor-funded projects that facilitate increases in productivity through soil health improvement and crop protection measures, as well as the use of improved, high yield seeds.
Map data ©2015 Google
Contact Info
Issahaku Wumpini, Managing Director, 0244290265, 0206418231, wumpini.agro@yahoo.com
Value chain: Maize, Rice and Soy 17
MacJohn Geraldo
International Financial Services Limited (IFSL)
0241 903256 / 0507 901426 / 0303 217616
0244 628829 / 0208 069364
mgygeraldo@yahoo.com / info@ifsgh.com
Kwujangi48@yahoo.com / idcghana205@yahoo.com
int_mc@yahoo.com / eoforibah@yahoo.co.uk
Kenneth Wujangi
ING Consult
wayne.miranda@growthmosaic.com
Integrated Development Centre
IESO Agribusiness Consult
0302 902 270
danielmensah@ecubemetrix.com
0244 870464 / 0244 878124 / 0208 156068
FRANCIS OSEI
Growth Mosaic Ltd.
0244 722242 / 0246 059120
csld.program@gmail.com
Emmanuel Ofori-Bah; Kwame Ashun Quainoo
Wayne Miranda
EcubeMetrix Limited
0245 380808 / 0203 959403
Integrated Management Consult Ltd.
Daniel Nana Sei Mensah
Center for Sustainable Local Development (CSLD)
TAMALE: 0246123188 / 0207101474
kwasi.owusutakyi@bsxapic.com / kwasighanaba@gmail.com
info@ingconsultgh.com
Alex Bokuma
B.S XAPIC & CO
ACCRA: 0243436848 / 0266150810
asrudghana2007@gmail.com
0302 231597 / 0208 407607
Kwasi OwusuTakyi & Seth Badu
0244-835624
afotey@amsigresources.com
Khalid Iddrisu
Cosmos Abiwu
Associates for Sustainable Rural Development (ASRuD)
244325889
fosei29@gmail.com
Afotey Odarteifio
AMSIG Resources
Telephone
0208 508800
Contact Person
BAS Provider Name
15
8
4
4
2
5
15
6
11
28
3
No. of Employees
No 1/09 Site 13 Community 1, Tema, Greater Accra
Post Office Box 42, Compound of E. P. Church, District Pastor’s Residence
Tema, Ghana
Saboba, Northern Region
Accra, Ghana
Accra, Ghana
No. 3 Hearts Lane, Kokomlemle, Accra
Fourth Floor, Marble House, Adjumah Crescent,
Accra, Ghana
15
14
13
13
2
3
8
Tamale and Accra, Ghana
Accra, Ghana
8
5
8
2
No. years in Business
Tamale, Northern Region
Accra, Tamale, Ghana
Ho, Ghana
Tema, Ghana
Location
16 Rovis Arcade, Spintex Road, Baatsona
23 Klannaa Street, Ako Adjei (Osu)
F3 Sabonkudi Estates, Vitting, Tamale
P. O. Box TL 2183, House No. I56, Gurugu/Jisonayili
P.O Box CT521, 1st Floor Coca Cola House, Adjacent Kwasi Oppong junction. Cantoments, Accra
P. O. Box HP1239, Ho, Volta Region
Suite 112, Parkview Plaza, Community 2, Tema
Specific Office Address
5,000 – 200,000
100,000 – 5,000,000
106,000 – 640,000
90,000 - 25,000,000
100,000 – 8,500,000
100,000 – 2,000,000
50,000 – 40,000,000
50,000 - 500,000
50,000 - 580,000
20,000 – 650,000
70,000 – 2,000,000
Range of Investment facilitated (USD)
Corporate Finance, Investment/Finance Facilitation, Business Planning & Feasibility Studies Preparation, Training in Entrepreneurship and Business Skills
Entrepreneurship Training, Coaching & Mentorship, Business Plans Preparation
Organization Development, Project/programme Management, Enterprise Development, Crop Value Chain Development and Coordination, Training Delivery, Monitoring and Evaluation, Impact Studies, SME Development and Training, Project Financing, Strategic and Business Plans Preparations, Feasibility Studies/Project Analysis, Financial Accounting and Management, Baseline Studies, Administrative and Training Manuals Development
Fund raising, Financial management & strategy, Investment appraisal, Business planning, General management consultancy
Agribusiness Strategy, Access to Finance for Enterprises, Training & Development in Agricultural Credit, Investment Advisory, Loan Workouts for Agribusinesses
Growth Strategy, Marketing & Distribution Channel development, Supply-chain development, Operations optimization, HR growth planning, Financial modeling and forecasting, Investment structuring, Client-Investor Relationship Building
Facilitating debt and equity financing in agribusiness, renewable energy, financial sector, and ICT. , Investment analysis , Scenario and business modeling, Risk management and due diligence for investment banking transactions , Private equity, privatization and venture capital funding
Business Development, Business planning, Business Advocacy, Opportunity/Risk/Uncertainty Analysis, Credit/Debt Financing & Management, Agricultural Value Chain Analysis/ Development, Financial Management and Record Keeping, Preparation of Financial Statements, Agricultural Extension
Audit, Tax, Advisory and Training, Financial Facilitation
Agricultural Development Options, SME training and development with Micro credit support Services, Social Development
Financial facilitation, Investment structuring, Value Chain Financing
Areas of Expertise
Business Advisory Service Provider Profiles
0208 135661
050 496 675, 027 776 893 8 / 0244 768 938
0302 247228 / 0508 983287 / 0248 707073 / 0544 915899
0208544651 / 0372097997
0244373622 / 0244785768
0208 8141985 / 0288 141985, 0302 979237
0507 905223 / 0208 994375
+233 302 543 182 / +233 242 551 529
Daniel Adoteye
Christopher A. Mensah
Lucy Akua Quainoo
Jacob Ayetor/Jonas Anagbonu
Eastern T. Khana-Khali
Justice AkuffoHenaku, Louis AsomaningBimpong
Solomon BondzieQuaye
Prince AkotoAdipah
Sam Zeph Atiemo
Vincent Akue, CPA, Managing Director
Kwabena Osei Danso
KPMG
Management and Economic Development Consultants Ltd. (MEDCO)
MEL Consulting Limited
Mensah JB & Associates
Partners in Agribusiness and Rural Development (PARD)
Social Investment Fund
Solutions Consulting
The Nunyuie Brothers Ltd (NBL)
Tradeline Consult Ltd
VA Investment Solutions Ltd
Venturehall Management Consultants
0244319391 / 0209990177
0503192388 / 0244337260 / 0544444286
0249 726465
0303 930695 / 0208 481012 / 0244 736076
Joseph Akotia, CEO
Joemelu Company Limited
Telephone
Contact Person
BAS Provider Name
kobby.danso@yahoo.com
Vaconseils@gmail.com, info.vainvest@gmail.com
tradelineconsult@gmail.com
nblghanaltd@gmail.com / pakotoadipah@yahoo.com
sobquaye@solutionsgroupgh.com / sobquaye@gmail.com
jakuffohenaku@yahoo.com / labimpong@yahoo.com
pardghana@yahoo.com
info@mjbgh.com / j-anagbonu@mjbgh / jayetor@mjbgh.com
melconsultghana@yahoo.com / laquainoo@yahoo.com
medcoconsult@yahoo.com
dadoteye@kpmg.com
joemelucompanyltd@yahoo.com
3
3
7
5
3
33
6
14
15
2
300
6
No. of Employees
Hse.No.332, AchimotaNsawam Road, Achimota.
Accra, Ghana.
Accra, Ghana
P.O. Box GP 14283, 9th Adama Street, Laterbiokorshie
8 Obodai Close, East Legon, Accra
Accra, Ghana
P. Box 665, Tema
Tema, Ghana
Accra, Ghana
Tamale
Tema, Ghana
Block F73 TDC Office Complex , Tema Community 18 Tema
P. O. Box CT 3919, Giffard Road, East Cantonments
Box 1805TL, Tamale
Accra, Ghana
Accra, Ghana
FLAT A4, NO. 42 DR. Isert Rd, North Ridge, Accra, Ghana P.O.BOX AN 19524, NO. 14 Goodwill Street Kokomlemle
Accra, Ghana
Accra, Ghana
Accra, Ghana
Location
No. 8 Mukose Street, Tesano
117 Yiyiwa Drive, Abelempke
P. O. Box TF 453 La, Accra, Duchess Court B2 Hydraform Estate Spintex
Specific Office Address
10
8
5
5
8
17
5
13
17
15
Since the 1920s
5
No. years in Business
5,000 - 1,200,000
500,000 – 2,000,000
200,000 - 2,000,000
500,000.00 1,500,000
10,000 – 5,000,000
1,000 – 2,000,000
5000 – 100,000
800,000 – 1,200,000
30,000 to 1,000,000
50,000 - 500,000
500,000 – 2,700,000
1,000,000 – 7,000,000
Range of Investment facilitated (USD)
Business plan development, business start-up support , professional accountancy, financial management, auditing and tax advisory , company secretarial, capacity building/training, business development
Agriculture investment project structuring and financing, Agriculture value chain financing focuses , Market Linkages, Multi-layered agreements and instruments (commercial loans, purchase order financing, leasing solutions, warehouse financing, social investment fund, private equity, special purpose vehicle and funds) to facilitate access to adequate, timely and affordable financing for our clients.
Investment and Credit facilitation, Organizational Development, Enterprise Development, Strategic Planning, Business planning
Financial / Accounting Advisory, Investment baseline studies Networth computation Business process re-engineering, Accounting system set-up ( including software ) Tax planning Inventory / warehousing management
Accounting and Tax, SME Business Advisory, Agribusiness Advisory and AfterCare Support
Project Management, Capacity Building and training, Monitoring &Evaluation, Small Scale Financing and Consultancy
Business planning and restructuring Agricultural Value Chain, Credit facilitation, Capacity building , General consultancy services in agriculture
Audit Services, Accountancy Services, Proposal and Business Plan Writing, Consultancy Services
Financial Services Technical Assistance, Business Development Services, Development Consultancy
Training and technical development in grains value-chains, Financial facilitation, Business Development
Audit, Tax and Advisory Services (Business Plan Preparation, Due Diligence Assessment, Valuation, Investment Appraisal, Feasibility Study, Market Study, Reporting Accountant, Independent Business Review, Diagnostic Business Review, Fund Raising, Mergers and Acquisitions)
Facilitate investment and credit facilities , Registration and the incorporation of new companies , Research and the preparation of Business plan/Feasibility study, Facilitating documentations and application to the Ghana Free Zones Board for free zones operating license, Management Training, Preparation of companies’ quarterly returns
Areas of Expertise
USAID’s Financing Ghanaian Agriculture Project (USAID-FinGAP) The USAID Financing Ghanaian Agriculture Project (USAID-FinGAP), implemented by CARANA Corporation and Connexus Corporation, is a 5-year Feed the Future project with the goal of facilitating finance and investment in the soy, rice and maize supply and value chains in the North of Ghana, and improving ancillary services so that agribusinesses can operate at full capacity and expand levels of food security in the country. USAID-FinGAP provides technical assistance and incentives to unlock significant financing for agribusiness through partnerships with strategic investors and buyers of rice, maize and soy. The project contributes to USAID’s overall goal of fostering broad-based, sustained and inclusive economic growth in Ghana. Over the life of the project, USAID-FinGAP expects to achieve the following: • $75 million in private capital deployed to targeted value chains by financial institutions; • 25 strategic partnerships supported in target value chains; • 250 transactions developed by team and business advisory service (BAS) providers; and • 90 SMiLEs and farmer organizations linked to over 120,000 smallholder farmers in target value chains gaining access to finance. The project has built strong working relations with key actors in the rice, maize and soy value chains including agribusinesses-from nucleus farmers to processors and end market users; financial institutions including commercial, rural and community banks and non-bank financial institutions as well as business advisory service providers. Also the project works with Government of Ghana agencies including the Ministry of Food and Agriculture; the Export Trade, Agricultural and Industrial Development Fund (EDAIF); Ghana Investment Promotion Centre; other USAID Feed the Future Projects and donor agencies in Ghana to address the financing needs of agribusiness in the target value chains. The project has developed risk mitigation tools with Eximguaranty Ghana and the Ghana Agricultural Insurance Pool (GAIP) to reduce risk for financial institutions lending to agribusinesses in the target value chain.
The Investment Mapping System The USAID-FinGAP Investment Mapping System (IMS) http://fingap.nautilytics.com/ is a publicly available online interactive map that allows potential investors visualize future agribusiness opportunities the rice, maize and soy value chains in Northern Ghana. The IMS helps agribusiness owners, financial institutions, investors and agribusiness consultants identify the current agribusiness infrastructure in the Northern Ecological Savannah Zone of Ghana, forecast the future production of rice, maize and soy and the corresponding investment opportunities based on the projected production. Go on. Try it.
Rick Dvorin, Chief of Party USAID-Financing Ghanaian Agriculture Project (FinGAP) Implemented by CARANA Corporation Tel: +233 (0) 302 245 998 rdvorin@carana.com 2nd Floor, Anysia Building, No. 17 Ringway Estates, Osu, Accra