1D1F: GH₵7.7m Approved To Finance Ekumfi Fruits & Juices Factory

The Secretariat of One-District-One-Factory (1D1F) has revealed that the Ghana Export and Import (EXIM) Bank has approved GH₵7.7million to finance the entire Ekumfi Fruits & Juices Company Limited located in Ekumfi Abor in the Central Region.

The first tranche has already been released and spent on the acquisition of implements such as tractors, tricycles and pick-up vehicles needed for operations for the first phase of the project.

Machinery for the factory is being procured and should be ready for shipment to Ghana shortly.

The National Coordinator for the One-District-One-Factory (1D1F) Secretariat, Hon Gifty Ohene Konadu, who confirmed this in a telephone interview said installation of the machinery for the factory will commence in the first quarter of 2018.

She was giving an update on the Ekumfi Fruits & Juices Company Limited and the outlook for 2018.

“The contractor, consultant and engineers are already on site in preparation for the necessary excavation and leveling works for the construction of the factory building,” she added.

Additionally, 600 out-growers who have been registered and their lands verified have been grouped on block farms in four (4) different communities for training.

Training for the first batch comprising 80 farmers from Ekumfi Ayisam, she said, was held on Tuesday, December 19, 2017, with the remaining batches expected to receive theirs in January 2018.

Mrs. Ohene-Konadu is confident that construction of the factory building will be completed on schedule.

Outlook for 2018

Touching on the outlook for 2018, she disclosed that three agro-processing projects are ready for sod cutting following their successful passage through evaluation at the Secretariat and their subsequent approval by the Banks.

The projects include; Amantin Agro Processing Plant; Asikess Ventures Limited; and Kpetsu, Adaklu Agro Processing Plant all of which will wholly rely on cassava for production.

Apart from that, the Secretariat has forwarded 60 business plans and proposals to some participating financial institutions to study. 28 of such proposals have been submitted to GCB Bank and the remaining 41 to Ghana EXIM Bank.

The business plans, she added, were submitted between the period of October 6 and 21 December, 2017. Ten (10) additional projects have also been submitted to the African Development Bank (AfDB) for infrastructural support.

According to Madam Ohene Konadu, four (4) of the business proposals have been processed by the banks and credit reports written on them for onward submission to the Risk Department and Board for final approval.

Four (4) of the business proposals are still in the processing stage with the promoters of these businesses expected to provide further documents to the financial institutions for processing.

The banks, she further noted, have also made initial contact with forty-two (42) promoters and are waiting for these promoters to revert with the necessary documentation in order to progress with their applications.

The proposals thus far cover five (5) main broad sectors namely; Agro Processing – Livestock (10); Agro Processing – Crop (27); Hospitality/Fashion (15); Manufacturing (other than agro products) (16); and Health (1) in all the Ten (10) regions.

REGIONAL DISTRIBUTION

The list below shows the regional distribution.

REGION NUMBER OF PROPOSALS
Greater Accra 11
BrongAhafo 5
Ashanti 12
Central 5
Western 6
Volta 3
Eastern 12
Northern 12
Upper East 2
Upper West 1
Total 69

Source: peace fm