Business

TIAST Group provides support to farmers, others on agric-value chain

November 19, 2020 By 0 Comments

Torchbearer International Agricultural Science and Technology (TIAST) Group and Stanbic Bank Ghana have assured farmers and other players along the agricultural value chain of support that will make the sector more vibrant and lucrative.

The support would be provided in the form of financial and technological means, to help boost businesses in the agric-value chain.

TIAST officials, while engaging farmers in Tamale last week, said they were determined to provide the needed technology, equipment and financial support to farmers and players to contribute significantly to the sector growth.

Famers and others on the agric-value chain were engaged in a day’s interaction dubbed: “Financial and technological boost for the agricultural industry in Ghana.”

Chairperson of TIAST West Africa, Madam Lisa Hao said: “we are poised to fund the equipment, technology and provide off-take trading locally to help Ghanaians get more value from agricultural produce such as cassava, rubber, tomatoes, corn and rice through processing with the requisite financial support from Stanbic Bank.”

The Tamale engagement comes on the back of the signing of a Memorandum of Understanding in Accra in September between TIAST and Stanbic Bank to support the production and processing of cassava and its derivatives.

Describing the collaboration as a game changer, Chairperson of TIAST West Africa, Madam Lisa Hao said her outfit and Stanbic Bank were setting up a sustainable mechanism for cassava industrialisation processing, saying “Stanbic Bank will provide financial support to their qualified clients while TIAST will build the processing lines.”

TIAST would provide the requisite technology to afford the client produce cassava starch, off-take the client’s cassava starch and pay back the client as well as the financier-Stanbic Bank.

“We off-take immediately you produce the required quantity, whether on weekly, monthly or yearly bases; we provide the packaging material for the processed goods for the processor and we arrange for shipment, to transport the products from the factory,” TIAST’s Chairperson explained.

Under the arrangement, crops will undergo processing via technology from cassava (into flour, ethanol, syrup and chips), tomato (into paste, juice), Maize (into flour, oil, syrup and flakes), yam (into chips, starch flour).

Madam Hao gave the assurance that her outfit would work on the cassava starch value chain and commit to protecting all interested parties, stating, “we want to do what we can to boost cassava industrialisation.”

Chief Operating Manager at TIAST, Mr Feca Xiao announced the establishment of the Group’s headquarters in Dawa, Tema, which facility he noted would include a research design and manufacturing centre, international conference centre, warehouse and business centre.

Welcoming the TIAST, Stanbic team, the Overlord of the Dagbon State, His Royal Highness Ya-Na Abukari II recalled he had during his investiture promised to mobilise the people of Dagbon as part of his development agenda to collaborate with other stakeholders and partners to increase access to farm inputs and services to smallholder farmers and to support in the development of commercial agriculture in Dagbon, “utilising the vast arable land for the benefit of our people.”

He said “my heart’s desire is to see this important project which seeks to promote business interest of all actors within the cassava industry value chain for effective contribution to Ghana’s development, grow bigger and better.”

The regional officer of the Ministry of Trade and Industry, Mr HamiduHamzaSaana was confident that the extension of financial and technical support to businessmen and women would serve as a springboard for farmers who were already in that business and those who were yet to join to harness their resources and expand their potentials.



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