GHANA – President Nana Addo Dankwa Akufo-Addo of Ghana has commissioned the Kasapreko Water, Juice and Soft Drinks Factory, a company operating under Government’s 1-District-1-Factory initiative.
At a ceremony at the premises of the company at Kwadaso, in the Ashanti Region, President Akufo-Addo noted that the establishment of the factory is a concrete manifestation that the new paradigm of economic development of insisting on value-addition industrial activities within a conducive and business-friendly environment, can make headway.
“This afternoon’s ceremony is in fulfilment of the promise by Government, in partnership with the private sector, to set up at least one medium to large scale enterprise in every district of Ghana.”
Nana Addo Dankwa Akufo-Addo- President of The Republic of Ghana
The 1-District-1-Factory initiative, the President explained, focuses on the promotion of commercially viable business ventures, through the establishment of an institutional framework that will attract private sector investments in rural economic activities.
Benefiting from this initiative, Kasapreko, in addition to the US$25 million borrowed from Stanbic Bank for this project, also received waiver of duties on machinery and raw materials, as well as a 5-year tax holiday, which, together amount to US$28 million.
The Kasapreko Tanoso factory will be serving the Ashanti, Bono, Ahafo, Northern, Savannah, North East, Upper East and Upper West Regions, as well as export its products to neighbouring countries such as Burkina Faso and Côte d’Ivoire.
The factory will have a capacity to produce about 35,000 bottles per hour of juices and non-alcoholic soft drinks, and 15,000 bottles per hour of water, working at full capacity.
According to President Akufo Addo, the factory will employ 300 people directly, and also generate some 3,000 indirect jobs through the supply chain.
President Akufo-Addo applauded the company for sourcing 90% of its packaging materials domestically, as bottles, caps and cartons are all produced in Ghana.
President Akufo-Addo further stressed that his government remains committed to supporting private sector operators, like Kasapreko, to become globally competitive.
This according to the President will enable them take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA), whose Secretariat has been established and commissioned in Accra.
“I am particularly pleased that a successful and innovative company like Kasapreko is finding new opportunities under the 1D1F policy, and would like to assure them of Government’s unwavering support,” he added.
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