As part of efforts aimed at empowering communities to utilise their local resources in manufacturing products, President Nana Addo Dankwa Akufo-Addo yesterday visited Global Almas Processing Ltd, a yam and cassava processing factory located in Bimbilla in the Northern Region.
Accompanying the President on a tour of the factory, the Deputy Minister of Trade and Industry, Michael Okyere Baafi, indicated that the company had taken advantage of the available local raw materials in the Nanumba District and its environs to process yam and cassava flour for both domestic and foreign markets.
Mr Okyere Baafi, who is also the Member of Parliament for New Juaben South, said Global Almas has a land bank of more than 2,000 acres at Bimbilla. He further disclosed that that “additional land would be acquired as the operations expand with anticipated increase in demand of products”.
He revealed that the factory produces 1,000 cartons of “Yam Fufu Flour” per day, under the brand name, “Almas Yam Fufu Flour”, which requires the purchasing of 10,000 yams per day.
“With respect to the cassava processing line, some 200 bags cassava flour is produced per day, with the company engaging some 20 farming groups, who have committed themselves to producing for the factory,” Mr Baafi stated.
The Deputy Trade and Industry Minister explained to the President that the total cost of the factory is pegged at GH¢9.2 million, with 60% equity contribution from the promoter translating to about GH¢5.2 million.
“The Ghana Exim Bank has also provided a credit facility amounting to GH¢1 million (10.8% of the total project cost) which was disbursed in February 2021. Global Almas has, thus far, created more than 74 direct jobs, including Management, Supervisors, Food Scientist, Laboratory Technician and Maintenance Technicians as well as women who are involved in the peeling, cleaning, bagging, stitching machine attendants and sorting of the yam and cassava,” he added.
In addition, he revealed that over 400 additional indirect jobs had been created for out-growers, transporters, harvesting team, packaging and handling as well as retail and distribution.
“Already, the company has signed an agreement with Sinostone Ethanol Manufacturing Company, located in Juapong, to supply 1,000 tons of cassava chips every month. Another agreement has been concluded with Bofas Company Limited located in Wa for the supply of 40-foot container of yam fufu flour every month for export to the US market,” he said.
The 1D1F initiative was instituted by President Nana Addo Dankwa Akufo-Addo to address the challenge of slow economic growth at the district level.
The initiative aims to achieve this through a massive private sector-led nationwide industrialisation drive, which will equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally.
This will allow the country to reap the rewards of industrialisation, increase agricultural and manufacturing output, reduce reliance on imports and increase food availability.
Aside that, it will also facilitate the implementation of business support services, capacity building, mentoring and coaching, provision of networking opportunities, assistance with financial planning and financial management, as well as assistance with regulatory and legal compliance.