Soros Economic Development Fund has announced a US$5 million investment in GADCO

As part of an effort to build sustainable businesses in Africa and fight poverty, the Soros Economic Development Fund has announced a US$5 million investment in GADCO, a Ghanaian agriculture company.

GADCO was a featured presenter during the first IAFN side event on responsible agricultural investment in 2011. Their model clusters small producers around a medium-sized farm that boasts processing and transport capacity. The aim is to boost rice production while improving the livelihoods of thousands of subsistence farmers.

SEDF’s commitment to GADCO will help smallholder farmers produce and sell rice on a large, commercial scale. The investment aims to reduce Ghana’s dependence on imported rice and consequent obligation to pay world market prices, by increasing and stabilizing rice production within the country.

Stewart Paperin, president of the Soros Economic Development Fund says that “Ghana has the potential to be an agribusiness leader on the continent”.