President Akufo-Addo yesterday commissioned CH Global Limited, a yam and cassava processing factory under the government’s One-District-One-Factory (1D1F) initiative.
The massive project is located in Addo Nkwanta, in the Krachi East District of the newly-created Oti Region.
This is the third factory the President has opened for production to commence in the past 10 days since he toured three regions including Oti.
He had opened a rubber factory at Western Region and a rice mill in the Western North Region last week.
With support from Ghana EXIM Bank amounting to some GH¢10 million, CH Global Limited is expected to process yam into frozen chips and yam balls, under the brand name CH Foods, and will take advantage of available local raw materials in the catchment area.
The first phase of the project is estimated to process an average of 120 tubers of yam per hour, resulting in 60 bags of processed frozen yam chips and yam balls, requiring an annual production of 216,000 tubers of yam.
The implementation of phase two of the project, which is scheduled to start in 2022, will introduce a cassava processing line for the production of cassava fries and snacks, with a capacity to process some 700 metric tonnes of cassava per year.
The company’s managers told President Akufo-Addo some 254 people will be employed by the factory under the phase one, whilst the phase two will also create a significant number of direct and indirect employment opportunities for the youth in and around the district.
The President commended the business promoters and traditional authorities of the area for their unflinching support for the project as well as Ghana EXIM Bank for providing the loan facility for the establishment of the factory at Addo Nkwanta.
According to the 1D1F Secretariat, about 278 1D1F projects have been targeted under the initiative which the President said, forms part of the effort to industrialise the country to accelerate development.
There are 104 factories currently in operation, 150 are under construction, and the remaining 24 at the mobilisation stage.
One hundred and sixty-five (165) out of the 278 projects, that is 60% of the factories, are new projects, whilst 113 companies are existing projects being supported, representing 40%.
Rationale for 1D1F
With unemployment being one of the main issues confronting the nation, the 1D1F initiative is seeking to address the youth unemployment task and also address underdevelopment in peri-urban and rural communities through the attraction of private sector investments in such areas.
1D1F programme is designed to transform the industrial landscape of the country, and build the capacities of local enterprises to produce quality products for both the local and foreign markets.