The Ghana Export and Import (EXIM) Bank has approved GHS7.7million to finance the entire Ekumfi Fruits and 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, the One-District-One-Factory Secretariat has said.
The National Coordinator for the One-District-One-Factory (1D1F) Secretariat, Gifty Ohene-Konadu, said installation of the machinery for the factory will commence in the first quarter of 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 stated, adding that 600 out-growers who have been registered and their lands verified have been grouped on block farms in four different communities for training.
Training for the first batch comprising 80 farmers from Ekumfi Ayisam, she said, was held on Tuesday, 19 December, 2017 with the remaining batches expected to receive theirs in January, 2018.
Mrs Ohene-Konadu expressed confidence 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 the evaluation process at the Secretariat and their subsequent approval by the banks.
The projects include Amantin Agro-Processing Plant; Asikess Ventures Limited Agro-Processing Plant; 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. Twenty-eight 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 additional projects have also been submitted to the African Development Bank (AfDB) for infrastructural support.
According to Mrs Ohene-Konadu, four 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 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 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 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 10 regions.