Komenda Sugar Factory Back!

Mr  Ajneesh Kumar of Indian High Commission also about to lay a tile.President Mahama recalled that when Dr. Kwame Nkrumah inaugurated the sugar factory at Komenda in the early 1960s, it was to produce sugar and other related products for both local and international markets.

But the company folded up in the turbulent political years of the country due to technical and operational challenges, causing the country to become a huge importer of sugar-importing in excess of 375,000 tonnes per annum.

“As we begin to produce more products locally we must equally support our campaign for the local consumption of these items,” he said, stressing that part of our long-term solution to our economic challenges lies in our consumption of products produced and made in Ghana.”

In that vein, President Mahama announced that a campaign to promote Made in Ghana goods would be officially launched soon, focusing on encouraging all the citizenry to patronize local products.

The President pointed out that part of the problems associated with depreciation of the cedi was because the country was import-dependent.

In 2013, he said exports from Ghana amounted to $13.8 billion while total imports reached $17.6 billion. Because of that there was a deficit of $ 4billion.

“Your country’s economy is as strong as your production,” he stated and urged all to dedicate themselves strongly to increasing productivity, and also develop a taste for local products in order to balance our terms of trade.

Haruna Iddrisu, out-going Minister of Trade and Industry, indicated that legislation would be passed by Parliament to protect the Ghanaian sugar industry from cartels abroad.

He said Japan and Mauritius have also expressed interest in investing in the country’s sugar manufacturing sector.

Mr. Iddrisu thanked the Indian government for assisting Ghana to access the $35 million line of credit from its EXIM Bank towards the project, of which Ghana contributed some $1.5 million in counter-part funding.

The acting Indian High Commissioner in Accra, Ajanish Quonir, described the project as another feather in the cup of Ghana/India relations, saying that it symbolized India’s commitment to Ghana’s development agenda.

He said with more than 500 sugar factories in India, that country has the requisite expertise to Ghana’s sugar industry to succeed.

 

 

 

 

 

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