The Upper East Farmers’ Cooperative Credit Union has delivered accessible credit, financial literacy, and business incubation services to over 500 smallholders and rural entrepreneurs within its first year of operation. 

Speaking at the union’s maiden Annual General Meeting (AGM) in Bolgatanga, Chief Executive Officer Dr. Charles Nyaaba reported that the member-owned financial institution is bridging local credit gaps while maintaining a 100 per cent loan recovery rate.

Established in August 2025, the cooperative was created to address the credit restrictions faced by informal sector workers, market women, and farmers who lack the conventional collateral required by commercial banks. 

Dr. Nyaaba explained that the union mobilises savings from its members to issue loans ranging from 2,000 to 100,000 Ghanaian Cedi. 

The cooperative pairs financial disbursements with mandatory entrepreneurship training and financial management mentorship, ensuring that beneficiaries deploy capital into commercial ventures with verified off-take markets for crops like maize, sorghum, and paddy rice.

The cooperative currently operates across the Bolgatanga Municipality, Pusiga, Tempane, and the Kassena-Nankana districts, with ongoing plans to expand services across the entire Upper East Region. 

In addition to cash loans, the union operates an input credit scheme that supplies fertilisers and equipment to farmers, allowing them to settle obligations using harvested produce. 

Testifying to the union’s impact, a beneficiary, Madam Stella Chibelitu, shared that she acquired a commercial tricycle on credit and secured a 60,000 Cedi loan to scale her sorghum trading enterprise.

Newly elected Union Chairman Alhaji Abdul-Rahman expressed optimism that the institution will serve as an engine for economic empowerment in northern Ghana. 

The cooperative aims to draw more youth and women into formal agribusiness, increasing household incomes and strengthening regional trade.

Source: Access Agric