... Investors Make Last Minute Withdrawal

The government has backed down from its earlier position to sell outright the Kumasi Shoe Factory to foreign investors and is rather considering a joint partnership venture.

Consequently, the one time vibrant shoe factory has been placed on tender for interested investors to submit proposals for bidding in order to revamp the factory.

According to THE INDEPENDENT, the Ashanti Regional Minister, Mr. Sampson Kwaku Boafo disclosed this at a forum dubbed “Meet Your MP” at the Subin constituency in Kumasi.

He said government’s position has become necessary following a last minute withdrawal of an offer by a Czech Republic company, Telfin to take absolute control of the reviving of the factory.

Notwithstanding this, the Regional Minister who is also the MP for the area assured the people in the region that urgent steps are being taken by government to get a multimillion-dollar investor to partner with it to bring the factory back to life