Government has in collaboration with the Ministry of Trade injected GHC40 million capital in Ghana’s largest avocado planting factory, Akuapem Gold.
According to the director of operations, George Klint, the factory originally cost 95 million cedis, however, Exim Bank has so far supported with forty million.
He further explained that discussion are ongoing with other financial institutions including Agricultural Development Bank for financing.
“We are looking at GHC95 million, in the meantime Exim has committed 40 million and we are looking at other investors to come on board.
“In the first year and the second year, we are doing five thousand acres of avocado, that’s for the nucleus farm and we will do fifteen thousand acres for out growers. So basically, that’s where we are now. We have employed over two hundred at the nursery and the factory building. We are supposed to start test run by end of November”.
Paying a visit to the five thousand acre factory, was Trade Minister Allan Kyeremanten who elaborated on how processing factories have been prioritised under the one district, one factory (1D1F) initiative to make Ghana a major exporter of avocado.
“They are adding value to our commodity, to our crop, that essentially is very popular in our country but not much is made out of it. But we are turning avocado into a cash crop and avocado oil, which is one of the products that will be generated from this company is one of the choicest oils; highly priced which can be exported and also used in Ghana for variety of things from cosmetics, to food preparations and other industrial uses.
“But it goes also beyond just extracting the avocado oil. They are also going to export fresh avocado for export and that is also going to be a significant demand outside this country. And the other thing that makes it a classic case of 1D1F Company is you can see where it is located, ordinarily, everybody will like to put such plant in Accra or Tema but this is in the middle of a rural community and so you can imagine the number of jobs that will be created from this center; not just the processing operation but the backward integration into the avocado plantation”.
In 2019, the Minister of Agriculture, Dr. Owusu Afriyie Akoto, cut sod for the construction of the avocado processing factory at the Akyem Nkroso in the East Akim Municipality of the Eastern Region.
Speaking at the ceremony then, the sector minister was optimistic about the prospect of jobs for people in the Akyem area.
“This is a very strategic investment in Okyeman because avocado is the crop for the future, the total world trade in avocado is over 16 billion dollars growing at a fast rate of nearly 10 percent per annum so therefore the originators have chosen well and it is an indication of the president’s vision of transforming and modernizing agriculture”.
“This is an agenda to transform agriculture to the extent that there will not be low productivity, post-harvest losses and be driven by positive attitudes that will improve and provide food security and profitability. The Akufo-Addo government seeks to make agriculture a more productive and sustainable venture that will provide employment and investment to Ghanaians and foreigners”.
