Minister for Trade and Industry, Mr. Alan John Kwadwo Kyerematen, has stated that some three high quality cassava flour factories have been resourced financially, to commence operations.
Mr. Kyerematen indicated that the three cassava flour factories; Ramec Limited, Manglobe Agric Limited and Sustenance Agro Ventures have been allocated GH¢1, 958,864.40, GH¢1,958,864.40 and GH¢2,339,664.40 respectively, to commence operations.
Answering a question on the floor of Parliament on why the completion of the three cassava flour factories have been stalled, the Trade and Industry Minister pointed out that the Project is to among other things, increase economic opportunities through sustainable and competitive cassava production, marketing and agro-enterprise development in Ghana.
He explained that the Export and Import Bank of Ghana (EXIM) approved an amount of about GH¢10 million in 2015 for the implementation of the Phase One of its Cassava Integrated Enterprise Development Project, which is aimed at large scale production and processing of cassava for industrial use and export.
The Trade and Industry Minister added that the factories are expected to produce High Quality Cassava Flour for the domestic market, to substitute for wheat imports for the production of flour, and for export.
Mr. Kyerematen said that the project is also to support 1,050 outgrowers, to cultivate cassava in the Brong Ahafo, Ashanti and the Northern Regions to feed the factories.
Mr. Kyerematen told the House that as part of the project concept, the beneficiaries are to provide an Updated list of the out-growers supported through the Food Research Institute (FRI) of the Council for Scientific and Industrial Research (CSIR), to the participating Bank.
The Trade and Industry Minister intimated that Ramec Limited, as a beneficiary of the scheme, is however yet to submit the list of its out-growers.
Mr. Kyerematen concluded that Manglobe Agric Limited is in default to the Bank to the tune of GH¢280,000, and as part of efforts to reduce the Bank’s risk assets portfolio, the company has been asked to show some commitment by paying its debt before any further disbursements can be made.
Source: GhanaJustice/S.Ayisi
