BRIDGE-in Agriculture, a transformative five-year initiative, has been launched in Ghana with the ambitious goal of revitalizing the nation’s agricultural sector. This collaborative effort, spearheaded by CrossBoundary Advisory in partnership with the Mastercard Foundation, brings together government bodies, private sector leaders, and aspiring young entrepreneurs. Its core objective is to bridge the significant financing gap faced by small and medium-sized agricultural enterprises (agriSMEs) while simultaneously empowering the youth with essential skills training, ultimately creating 400,000 job opportunities, with a strong focus on empowering young women.
The program’s strategic approach tackles two critical challenges hindering the growth of youth-led agribusinesses in Ghana: access to finance and capacity building. BRIDGE-in Agriculture addresses the financing hurdle by employing a blended finance model, leveraging capital provided by the Mastercard Foundation to participating banks. This enables these financial institutions to offer loans to agriSMEs at a significantly reduced interest rate of 7%, making capital more accessible and affordable. Recognizing that access to finance alone is insufficient, the initiative also provides comprehensive business development services to these SMEs, equipping them with the knowledge and skills necessary to enhance their sustainability and job creation potential. This integrated approach aims to overcome the estimated $5 billion SME financing gap that has long hampered the sector’s growth.
Central to the BRIDGE-in Agriculture initiative is its focus on youth empowerment, particularly young women. This demographic represents a significant portion of the rural workforce and holds immense potential for driving economic growth within the agricultural sector. By providing targeted support, including skills development, financial access, and mentorship opportunities, the program aims to equip these young entrepreneurs with the tools they need to establish and scale successful agribusinesses. This emphasis on youth and women’s empowerment aligns with Ghana’s national strategy for inclusive economic growth and underscores the program’s commitment to fostering a more equitable and prosperous agricultural landscape.
The impact of BRIDGE-in Agriculture is already evident in the initial months since its launch in June 2023. The program has facilitated the growth of numerous SMEs, positively impacting over 86,000 young people through job creation, improved working conditions, and enhanced livelihoods for smallholder farmers. A testament to its commitment to reaching underserved entrepreneurs, a significant proportion of the disbursed loans, 58.3%, have been granted to first-time borrowers, demonstrating the program’s dedication to providing opportunities for those previously excluded from traditional financing channels. These early successes highlight the program’s potential for long-term, sustainable impact on Ghana’s agricultural sector.
Beyond financing and training, BRIDGE-in Agriculture fosters a vibrant ecosystem for collaboration and knowledge sharing within the agricultural sector. The program actively organizes industry forums, policy roundtables, and networking events, creating platforms for stakeholders to connect, share insights, and collectively address the challenges and opportunities within the agricultural finance ecosystem. Young entrepreneurs are further empowered through pitch competitions and post-training grants, providing them with the resources and visibility necessary to scale their ventures and contribute to the modernization of Ghana’s agricultural sector.
BRIDGE-in Agriculture represents a significant step towards unlocking the immense potential of Ghana’s agricultural sector. By addressing the critical constraints of financing and capacity building, the program is fostering a dynamic and inclusive environment for young entrepreneurs, particularly young women. This initiative aligns seamlessly with the Mastercard Foundation’s broader goal of enabling three million young Ghanaians to access dignified and fulfilling work by 2030, contributing to a brighter and more prosperous future for the nation. Through its comprehensive and collaborative approach, BRIDGE-in Agriculture is not just creating jobs; it is building a more resilient, sustainable, and equitable agricultural sector that will serve as a powerful engine for economic growth and development in Ghana. The program’s commitment to empowering youth, fostering innovation, and building a stronger agricultural ecosystem positions it as a model for transformative development initiatives across the continent.
