The Agricultural Development Bank (ADB) has revealed that it has so far disbursed over GHC100 million to 17 companies under the ‘One District One Factory (1D1F)’ initiative in the areas of agro-processing, aquaculture and poultry.
Daasebre Akuamoah Agyapong II, Chairman of the Agricultural Development Bank (ADB), at a news briefing after visiting the Ekumfi Fruits and Juices Limited in the Central Region to access how funds extended to the facility are used, noted that the bank will continue to fund the 1D1F initiative to help industries operate at full capacities.
“As a bank, with the focus on agribusiness, we will continue to fund 1D1F initiative, mainly through the out-grower schemes to help industries to operate at full capacities and create more jobs.
“The visit by the new Board of Directors of the ADB is part of our commitment to get first-hand information on how loans disbursed to companies are being used and to further strengthen our relations with the cherished customers.”
Daasebre Akuamoah Agyapong II
The Omanhene stated that through the Farm Direct Limited of the bank, the Ekumfi Juice Factory has had a constant supply of raw materials to produce healthy Ekujuice and created 1,000 jobs within its catchment area.
“I wish to state that Farm Direct Limited is of unique interest due to our out-grower scheme project funded by the bank to support Ekumfi Juice Factory. We have identified the out-grower scheme as a reliable way of supporting our industries with raw materials under the government’s 1D1F.”
Daasebre Akuamoah Agyapong II
Daasebre Akuamoah Agyapong II further disclosed that the out-grower scheme has helped to create jobs in the local communities to curb the rural-urban migration menace.
The board chairman ceased the opportunity to express his sincerest gratitude to the previous board, especially for supporting the scheme and the Farm Direct for applying the funds for the purposes that it was intended for, saying, “We have seen what they are doing over here and we are happy that the funds have not been misused.”
In addition, the Omanhene and management handed over two tractors to the Ekumfi Juice Factory to support them in their operations.
Frederick Kobinah Acquah, the director of operations at the Ekumfi Fruits and Juices Limited, expressed gratitude to the ADB for channeling funds through the Farm Direct Limited to support farming in the community. This, he noted, has helped to grow fruits and supply raw material needed to the factory in a sustainable way.
Mr Acquah revealed that the bank’s support helped the factory to process 200,000 fruits per day and that would let Ghanaians see the Ekumfi juice on all shelves, homes and outside the country.
“Pineapple is our base, but pineapple alone is boring. Our pineapple plus ginger received a lot of commendations. Our vision in itself appears in our name, the company name Ekumfi Fruits and Juices Limited.
“So, what it means is that, we deal with fruits generally and we are doing the mixes. What we have here is multifruit processors. Ekumfi has been associated with quality and that is what we want to maintain and hold onto.”
Frederick Kobinah Acquah
The operations officer averred that they are ready to have long standing relationship with the ADB. He thus, call on the bank to further support the factory to venture into the production of variety of fruit juices, noting that the capacity of the factory was 10 tons per hour, for a shift.
Mr Acquah concluded by hailing ADB’s support stating that it has helped create livelihood for many youths.
“Mr chairman, supporting Ekumfi Fruits and Juices Limited has helped create jobs in the area and an expansion of this means expansion of job creation and all of this is giving meaning to the slogan of the ADB ‘Truly Agric and More’.”
Frederick Kobinah Acquah
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