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Asantehene, Otumfuo Osei Tutu II, has launched a 10-year development initiative that is expected to cost $ 400 million to turn Kumasi into a modern industrial city.
Project financing is requested from Eximbank, with Fidelity Bank as a local facilitator.
Asantehene uses land from its traditional territory as collateral for the loan.
The Amoamahene, Nana Agyemin Boateng, announced when he had represented Asantehene at a dinner hosted for business leaders in Kumasi last Friday.
He said five major projects, including a jute plant, a mango processing plant, a metal fabrication support project and a kente development project, would be carried out alongside other ancillary projects.
Main projects
Part of this money is earmarked for the construction of a jute processing plant in Sabin Akrofuom (Nkoranza) to promote cocoa, cashew and other related crops in order to stimulate the production of jute. local economy.
The jute plant is expected to create about 3,000 direct jobs and 2,000 indirect jobs for young people.
The mango processing plant, which should also be located in Sabin Akrofuom (Nkoranza), is expected to create about 100 and 300 direct and indirect jobs respectively.
The metal manufacturing support project, called "The Otumfuo Osei Tutu II Industrial Cluster", will be located in the enclave of Suame Magazine and aims to exploit the engineering culture around the enclave and to make Suame an important center of manufacture of metal products for the automobile. and indirect jobs.
The Kente Development Project, which will be located in Bonwere, Ejisu-Juaben Municipality, is also named after Ashanti's Queen Mother, Nana Afia Kobi Serwaa Ampem.
According to Nana Agyemin Boateng, while the student population of the Kwame Nkrumah University of Science and Technology (KNUST) is increasing, Otumfuo will make land available to businessmen to enable them to build more infrastructure to welcome the first group of free high school graduates next year. .
To this end, he said, Otumfuo – who is also chancellor of the university – has courted a number of business people and partners to provide both hostel facilities and halls. of conference.
auxiliary
Amoamahene said that beyond the five main areas of the project, the King is also in talks with Tullow Oil and the Ghana National Petroleum Corporation (GNPC) to transform Kumasi Children's Park. – renamed Lady Julia's order children's park in the world of the Order – in a new resource serve youth and society.
Support
In all these areas, Otumfuo called on the business community, particularly the Asanteman tycoons, to contribute to "unfunded" projects as part of their contribution to the construction of Kumasi.
United Ashanti
At the launch of the projects, Nana Effah Apenteng, of Bompatahene, called for the creation of a united Ashanti to help Asantehene build and bequeath a legacy worthy of the name.
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