Seasoned entrepreneur, writer and agricultural engineer, Kwabena Obeng Darko has called on farmers and persons interested in agriculture to acquire some form of financial skills training to enable them to thrive in that sector.
This, according to Mr. Obeng, will help people in the agricultural industry use their finances judiciously while eliminating unwanted expenditures.
“Beyond technical expertise, it is imperative for farmers and people who want to go into agribusiness to have some financial knowledge. Financial literacy will help you cut down costs, enhance transparency if you are working with a team, and also guide you to know if you are making profits or losses,” Mr. Obeng said during an interview with Enyonam Manye Adjetey on “The Ghanaian Farmer” show, which airs on Radio Gold every Sunday at 2 p.m.
Providing further insight on securing funds or investors to support agricultural development, the author and entrepreneur advised farmers to woo financiers with their work.
“If you want people to really invest in your business, prove it to them with your work, no matter how small. In doing this, you are telling the investors of your capabilities and what you can even do if given more funds for your work,” he stated.
Mr. Obeng Darko also indicated that, beyond proving one’s commitment and competence, it also builds confidence in people to invest.
On whether farmers and agric entrepreneurs should secure loans for their work, the prolific writer cautioned against taking loans with ridiculous interest rates. He instead called on them to have multiple streams of income to provide augmentation for their financial needs.
“Make a conscious effort to be independent and not rely solely on government or corporate entities to support you financially or even logistically before you start a new season,” he added.
Mr Obeng Darko also opined that most farmers face challenges due to complacency and their over-dependence on the government and NGOs for support.
Meanwhile, he encouraged Ghanaians in the diaspora to have a supportive team and trustworthy people in place to ensure their investments yield fruitful returns. He urged them to make good use of technological resources to maximize and enhance transparency, remain vigilant while away, and take full responsibility for their actions.
Reporting by Stephen Freeman.
