Trade Minister inaugurates $ 30 million cocoa processing plant

Company News of Tuesday, February 5, 2019

Source: Myjoyonline.com

2019-02-05

The Minister of Trade and Industry, Alan Kwadwo Kyerematen, has inaugurated a $ 30 million worth of cocoa processing plant on the Spintex Road in Accra.

The factory, which is expected to process 15,000 tons of cocoa beans a year, is one of the planned projects in the government's flagship program, "A district, a factory".

The Afrotropic Processing Company Limited (ACPL) will produce quality products that can be used for chocolate, cocoa powder, cocoa liquor and cocoa butter.

It should also be added to the number of tonnes of cocoa processed locally, which stood at 300 000 tonnes last year.

Speaking at the event, Mr Kyerematen said the inauguration was part of the government's plan to ensure that 50% of the raw materials are processed locally.

He noted that the Government is focused on implementing key economic reform programs and policies to ensure that local industries are built to withstand the dynamic nature and volatility of the global business environment.

The Minister of Commerce has shown enthusiasm for the recapitalization of Afrotropic, as cocoa, which remains the backbone of the economy, had less than 400,000 tons of raw beans in progress to add value to the country.

He was very pleased that the factory creates more than 350 direct and indirect jobs for the people of the country.

As part of efforts to attract foreign direct investment, Alan Kyerematen revealed that "the government has been working hard to reduce the debt-to-GDP ratio from 73% to 57% between 2017 and 2019."

Alan Kyerematen asked the cocoa processing plant to take advantage of the free export markets that Ghana had with America and Europe, while preparing to take advantage of the African single market to come as part of the Continental Free Trade Area, an African initiative for free trade in the world. middle of the year.

Nutkao Group CEO Andrea Guidi said his strategic plan was to continually develop Afrotropics as the main supplier of cocoa raw materials for the group, adding that with the support of government and its various agencies, Afrotropics would be able to grow and develop in the years to come.

He added that the Nutkao group currently distributed its products in more than 60 countries, half of them outside the European Union, adding that the group also played an important role in Italy's home country. 39 origin for semi-finished products intended for the confectionery industry.