The Farmers’ Cooperative Credit Union (FACCU) has announced plans to expand its operations across the Upper East Region to provide affordable financial services to farmers, traders and small-scale entrepreneurs.
The announcement was made during the cooperative’s maiden Annual General Meeting (AGM) held in Bolgatanga, where members elected the union’s first Board of Directors and outlined plans to strengthen its governance structures.
FACCU Founder, Dr Charles Nyaaba, said the cooperative was established to address challenges faced by farmers and informal sector workers in accessing credit from traditional financial institutions.
He said many farmers, market women, artisans and traders struggle to obtain loans due to collateral requirements and lengthy approval processes.
“We decided it was time for farmers and other informal sector workers to take their destiny into their own hands by mobilising their own resources to support one another,” Dr Nyaaba said.
Since beginning operations in 2025, FACCU has grown to more than 500 members and provided loans ranging from GH¢2,000 to GH¢100,000 to support farming and small businesses.
Dr Nyaaba said the union has achieved a 100 per cent loan recovery rate due to strict lending procedures, financial education and continuous support for beneficiaries.
He said FACCU goes beyond providing loans by offering entrepreneurship training, business guidance and support to help members establish sustainable ventures.
The cooperative also supports farmers with market access through partnerships with subsidiary companies, allowing producers of crops such as maize and paddy rice to secure buyers for their produce.
Dr Nyaaba said FACCU plans to extend its operations beyond Bolgatanga Municipality, Pusiga and Kassena-Nankana to cover all districts in the region while increasing its loan portfolio and public education campaigns.
He encouraged young people to consider agriculture and entrepreneurship as viable opportunities, stressing the importance of business planning, financial literacy and market access.
“We are providing a comprehensive solution from business orientation and startup capital to market access. We believe this will become a game changer for farmers, women and young entrepreneurs across the Upper East Region,” he said.
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