President inspects GH¢9.2 million yam/cassava factory in Bimbilla

3

Bimbilla (N/R), Aug. 11, GNA- President Nana Addo Dankwa Akufo-Addo Tuesday inspected the Global Almas Processing Ltd, a yam and cassava processing factory located in Bimbilla, in the Northern Region.

The tour of the GHc9.2 million factory formed part activities during his working tour of the Northern Region.

The factory falls under the ‘One District, One Factory’ policy of the government that is keyed on creating jobs for Ghanaians and boosting the country’s industrial transformation agenda.

Deputy Trade and Industry Minister, Michael Okyere Baafi, who took the President on the tour of the factory, said the company had taken advantage of the available local raw materials in the Nanumba and surrounding areas to process yam and cassava flour for both domestic and foreign markets.

He told the President that Global Almas had a land bank of more than 2,000 acres at Bimbilla, and additional land would be acquired as the operations of the factory expanded with the anticipated increase in demand for products.

Mr Baafi disclosed that the factory produced daily some 1,000 cartons of Yam Fufu Flour under the brand name Almas Yam Fufu Flour, requiring the purchasing of 10,000 yams per day.

With respect to the cassava processing line, some 200 bags of cassava flour was produced daily, with the company engaging some 20 farming groups, who have committed themselves to produce for the factory.

The Deputy Minister indicated to the President that the factory, which cost some GH¢9.2 million, had a 60% equity contribution from the Promoter translating to about GH¢5.2 million.

The Ghana Exim Bank 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 Scientists, Laboratory Technicians and Maintenance Technicians as well as women who are involved in the peeling, cleaning, bagging, stitching machine attendants and sorting of the yam/cassava.

In addition, over 400 additional Indirect jobs have been created for out-growers, transporters, harvesting team, packaging & handling, sales outlets, etc.

The company has signed an agreement with Sinostone Ethanol Manufacturing Company located in Juapong to supply 1,000 tons of cassava chips every month.

It has also concluded another agreement with Bofas Company Limited located in Wa for the supply of a 40-foot container of yam fufu flour every month for export to the US market.

Source: GNA