Business

1D1F: 57 factories approved for Accra

Deputy Minister for Trade and Industry, Robert Ahomkah Lindsay, has hinted that as part of government’s One District, One Factory initiative, 57 factories have received approval from investors and will soon commence operations in the Greater Accra Region.

More than half of the 57 factories the deputy Minister disclosed are into the Agro-processing subsector.

According to the Minister, out of the 57, 14 businesses have received approval from the bank while the others are finalizing agreements with financial institutions.

Addressing the audience at a groundbreaking ceremony of a tomato processing factory, Robert Ahomkah Lindsay mentioned that Leefound Food Stuff Company Ghana Limited, as one of the companies which is ready to start operating by December 2018.

The factory, located at Afienya, is a joint venture between two major shareholders; Ghana Rise Food Company Ghana Limited and Tianjin Limmin Condiments Company Limited of China.

He added that there will be initial importation of tomatoes but assured that local farmers will source the factory with majority of raw materials needed for the final product.

“This factory will be producing tomato paste. Initially, there will be some elements of the import of the tomato paste but we look very quickly to source some of our raw materials from local farmers.” He indicated.

The Deputy Trade Minister stated that although the factories have successfully gone through the approval process, each has a different completion date and requirement as well as mishaps that will quickly be addressed.

Citing an example with Leefound Food Company, Ahomkah Lindsay said the factory was delayed as a result of issues with securing the land but as soon it was resolved, the project commenced.

“Different businesses have different plans. This has got six months to completion, others may have it a bit longer, others may be expansion. We notice the difference and they all started in different forms,” he said.

Nonetheless, he asserted that the 14 companies are doing quite well and have the full support of government adding that “at the end of the day what they need is the factories up and running and jobs created for Ghanaians.”

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