Government to uncap Exim Bank levies to boost poultry production – Ato Forson

The government will uncap the levies allocated to the Ghana Export-Import Bank (Exim Bank) to increase its funding capacity and support local poultry production.

This was announced by the Finance Minister, Dr Cassiel Ato Forson. According to him, the additional resources will enable the bank to take a leading role in financing poultry farming and the production of poultry feed in the country.

"Mr Speaker, we also announce the uncapping of the Exim Bank levies. The government will also uncap the levies earmarked for the Ghana Export and Import Bank," he said.

"With this increased funding, Mr Speaker, the Ghana Exim Bank will take responsibility for financing commercial poultry and feed production under the 'New Economy' programme over the next four years," he added.

He said Exim Bank will also be required to dedicate at least 40 per cent of the revenue it generates to supporting the poultry sector.

"From 2027 to 2030, and beginning in 2027, the Ghana Exim Bank will dedicate at least 40% of the revenues from the Ghana Export and Import levy to the poultry sector, supporting poultry farmers and feed production to expand production and meet domestic demand."

The intervention is aimed at strengthening domestic poultry production and reducing Ghana's dependence on imported poultry products.

According to him, "The government has directed the bank to work with industries to make Ghana self-sufficient in poultry and feed production. Mr Speaker, we will put this funding to work on Ghanaian poultry farms, grow Ghanaian chickens, support Ghanaian businesses, and create jobs across the poultry value chains," he said.