Africa-Press – Ghana. A young agribusiness firm, YoungWorth Investments, has expanded its operations significantly after benefiting from a post-COVID-19 recovery financing programme aimed at strengthening medium and small-scale enterprises (MSMEs).
The company, which operates crop farming, salt production, and agribusiness aggregation in the Ada West District of the Greater Accra Region, has scaled up production, created jobs, and improved infrastructure after accessing a GH¢300,000 facility under the Post-COVID-19 Skills Development and Productivity Enhancement Project (PSDPEP).
The PSDPEP, a government initiative funded by the African Development Bank Group and implemented through agencies, including the Social Investment Fund, provides affordable financing, training, and operational support to SMEs impacted by the pandemic.
Mr Dennis Agbi, the Chief Executive Officer of YoungWorth Investments, told the Ghana News Agency (GNA) during a visit to the firm that the funding enabled the company to acquire six acres of land, construct a mini dam, and install an irrigation system for year-round farming.
“Previously, we relied heavily on rainfall, but now we are able to irrigate and produce even during the dry season,” he said.
The company has since introduced tomato cultivation and expanded into dry-season watermelon production, while maintaining salt production during off-farming periods.
Mr Agbi said combining salt production and farming was a strategic decision based on seasonal patterns in the Ada West area, where dry conditions favour salt harvesting and wet periods support crop cultivation.
He noted that the intervention had strengthened the firm’s out-grower model, increasing the number of smallholder farmers it works with from 15 to 43.
“These farmers are both our partners and suppliers. We support them with inputs and also purchase their produce,” he said.
The company has also moved beyond selling raw produce to value addition, processing crops such as tomatoes, pepper, and plantain, alongside natural sea salt, which is minimally refined to preserve its nutritional value.
On the salt production side, Mr Agbi said the funding had improved reliability and output through investment in groundwater extraction and production infrastructure.
“Previously, we depended on inconsistent seawater flows, but now we have a borehole that allows us to extract brine directly for steady production,” he explained.
Mr Agbi added that the company had increased its salt mining trampolines from five to eight, boosting output within a shorter crystallisation period of three to four days.
It also aggregated produce from micro and small-scale salt miners to enhance volumes and maintain steady market supply.
Despite the gains, Mr Agbi identified fluctuating market prices as a major challenge, noting that it continued to affect profit margins.
“We sometimes have to sell just to meet loan repayment obligations,” he noted.
To address that, the company planned to invest in storage and processing infrastructure to reduce post-harvest losses and improve value addition.
“We aim to establish a large warehouse and processing facility within the next five years to strengthen our value chain and support food security,” he said.
Mr Gedematu-Kaizer Amos, Operations Manager of the company, said access to the funding support had improved operational efficiency and staff welfare.
“Before, we struggled with capital and relied on shared resources. Now we have our own equipment and increased production, which has positively impacted our earnings,” he said.
The improved financial situation had enabled him to acquire a motorbike to support his daily operations, Mr Amos said.
Under the PSDPEP, MSMEs receive low-interest financing capped at about 12 per cent annually, along with capacity-building programmes delivered through partners such as Africa Skills Hub.
The initiative targets key sectors including agribusiness, manufacturing, and hospitality, with the goal of supporting about 25,000 MSMEs nationwide.
YoungWorth Investments, established in April 2020 during the COVID-19 pandemic, initially operated as an affiliate marketing business before transitioning into full-scale agribusiness production.
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