Skip to main content

1D1F: Outgrower farmers to receive support from ADB


Outgrower farmers supplying raw materials to factories under the government’s One-District-One Factory (1D1F) policy are set to receive loans from the Agricultural Development Bank (ADB).

This was disclosed by the Managing Director of the Agricultural Development Bank (ADB), Dr. John Kofi Mensah.

According to him, industries established under the 1D1F initiative in need of agricultural support can be assured of the Bank’s preparedness to provide them with the needed financial support to better their output.

At the commissioning of the Ekumfi Fruits and Juices Limited and Casa De Ropa Limited in the Central Region by the President, Nana Addo Dankwa Akufo-Addo, Dr. Kofi Mensah said the bank will soon disburse an amount of about GHS50 million to outgrower farm companies operating within the catchment areas of the two factories.

He noted that, “These factories need constant supply of raw materials to remain in business and as our contribution to the 1D1F, we are giving out loans, especially to outgrower farmers attached to the 1D1F factories so they can supply these factories with the needed raw materials.”

Read also: Our goal is to surpass developed countries 

According to Dr. Kofi Mensah many companies established in the past have not performed to full capacity or even survived due to lack of raw materials, hence the decision by the bank to support the outgrower farmers to ensure the availability of raw materials to sustain the factories and create more jobs.

Touting the government’s 1D1F policy, the ADB Managing Director said described it as the biggest industrial programme developed in recent times with the potential to fully transform the Ghanaian economy.

“Our association with such key government projects, especially those related to agribusiness, is a manifestation of the new direction of the Board to ensure the Bank focuses on its mandate of agribusiness financing,” he said.

He further appraised Akufo-Addo for his foresight and vision of the 1D1F initiative and pledged that the ADB will continuously support any initiative aimed at making Ghana’s food sufficient.

Ekumfi Fruits and Juices Limited produces pineapple juice under the brand name ‘Eku juice’, comprising 100% pineapple with no additives.

It has the capacity to process and package 80 to 150 metric tons of pineapple per day. It processes other fruits aside from pineapple and has the capacity to produce 10 tons of fruit per hour, making it one of the biggest fruit processing factories in West Africa.

The Casa de Ropa factory on the other hand, is also into the production and processing of orange-fleshed sweet potatoes into bread, chips and other pastry products.

It is also a greenfield project and can produce between 7,200 metric tons of pastries per day with a workforce of 150.

 

Comments

Popular posts from this blog

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

 Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea

Anglogold Ashanti Obuasi Mine tops 2024 Sustainability & Social Investment Awards

 AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra. The feat comes on the heels of a dominant performance in last year's event where AngloGold Ashanti Obuasi Mine swept seven awards. The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life. This year's event, which was the 8th edition, was under the theme "Climate Action Now: Accelerating Decarbonization and Building Resilience". The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Co