Business News of Saturday, 30 November 2024

Source: GNA

Dr. Bawumia commissions GEXIM funded Watermelon Processing Factory

Vice President, Dr. Mahamudu Bawumia Vice President, Dr. Mahamudu Bawumia

Vice President Dr. Mahamudu Bawumia has commissioned a state-of-the-art Watermelon Processing and Bottling Factory in Logri, Walewale, in the North-East Region of Ghana.

Addressing a gathering of locals in Logri before the commissioning, Dr. Bawumia stated that the factory, which aligns with the government’s One-District, One-Factory initiative, was fully funded by the Ghana Export and Import Bank (GEXIM).

He emphasised that the aim of the factory was to tackle the ongoing issue of post-harvest losses faced by watermelon farmers in Walewale and its surroundings.

"The Walewale area is known for its watermelon farming, but unfortunately, farmers have struggled with recurring post-harvest losses. To address this issue, our factory has been strategically placed to utilize the abundant local raw materials for juice production.

"This project is designed to optimize the use of watermelons, reduce post-harvest losses, and create a more sustainable and efficient value chain," he explained.

Dr. Bawumia praised the Board, Management, and staff of the Ghana Export and Import Bank for their collaboration with the factory's promoters, Champion Foods and Beverages Limited, in providing timely financial support for the successful completion of the factory.

Lawrence Agyinsam, the CEO of the Ghana Export and Import Bank (GEXIM), expressed gratitude to the government for entrusting the bank with financing the construction of the factory.

He mentioned that after being tasked by the Vice President in December 2019, the Ghana Export and Import Bank worked closely with Champion Foods and Beverages Limited to ensure the timely completion of the factory.

Agyinsam proudly stated that within less than a year since the groundbreaking, Ghana Export and Import Bank, in collaboration with Champion Foods and Beverages Limited, had funded 80% of the project.

He also disclosed that the bank had invested a total of GH¢50 million in the factory to support the government's industrialization agenda.

The factory is expected to create 800 direct jobs, 1,000 indirect jobs, provide a market for small-scale farmers, and boost agriculture and productivity in the region.

Agyinsam urged the locals and attendees to maintain the factory properly to ensure its longevity and effectiveness in serving its intended purpose.