Poultry farmers livid over delay in GH¢6m loan refund

Ghana's poultry industry has been hit with yet another challenge as loans secured under the past NDC government for the acquisition of machinery and other inputs for poultry framers has gone down the drain.

Poultry farmers are threatening legal action should government refuse to refund the GHc6 million cedis that was used in financing the pilot phase of the Ghana Broiler Revitalization Program (GHABROP) launched in 2014.

According to them, all efforts aimed at getting a refund have proven futile.

The loan, which was taken from Barclays Bank by Boris B's Farms and Veterinary Supplies Limited, was to help boost the growth of the poultry industry.

Although the principal of the loan and its interest have risen to 8 million cedis, Boris B's and the poultry farmers say the proceeds have yielded just GHc 2million which is not enough to retire even the principal.

The poultry sector has seen a huge decline over the years, and farmers believe it may totally collapse if government continues to ignore the sector.

Vice Chairman of the Poultry Farmers Association of Ghana, Napoleon Agyeman Oduro, says the refusal by government to pay the loan is causing huge discomfort and challenges to the borrowers.

He further pleaded with government to investigate and reimburse the financiers as the industry is collapsing.

“This did not happen in this current government's hands. However, we want to plead with them to investigate. The entrepreneur deserves some form of compensation, some form of reimbursement.”

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By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana.