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General News of Saturday, April 13, 2019
Source: citinewsroom.com
2019-04-13
Former President John Dramani Mahama
Former President John Mahama urged the government not to sell Komenda Sugar's factory.
"It is unacceptable to sell the factory. We can get the expertise and technology to make this plant work, "he told the media during his thank-you tour in the central region.
The Minister of Trade and Industry, Alan Kyerematen, told Parliament that a new strategic investor would be announced by the end of April to acquire the badets of the company. Factory of Komenda Sugar.
The parliamentary minority later accused the government of deliberately undervaluing the factory so that it could be sold at a lower cost.
He added that the government had ruled out the recommendations of a technical audit of the project for the sole purpose of seeking a motive for selling the company.
Mahama urged the government to seek the $ 23 million loan from the Exim Indian Bank for phase two of the project, which he says is still available.
"The loan from the Indian bank Exim is still available and the government had only to take the money and implement the second phase of the project.Once that done, this factory would work", he added.
He recalled that his administration had sought only an arrangement between the private and the public to provide the necessary technical expertise, but his intention was not to sell the factory .
Ghana has seen a significant increase in its sugar imports since 2001.
In 2013, sugar imports were the eighth most valuable product and the fourth most important food product after rice, fish and poultry, as indicated in the Ghana Sugar Policy.
According to the policy, Ghana imported 463,000 megatonnes of sugar in 2014, a decrease of 32.21% from 683,000 metric tonnes in 2013.
Forecasts indicate, however, that sugar consumption in Ghana could reach 872,000 tons by 2030.
Similarly, the subregion of West Africa, which is also expected to experience rapid growth in sugar consumption, is also a potential export market for Ghana.
With this in mind, Mr. Mahama said that the plant was needed to position Ghana on the right end of the import-export chain.
"If we produced sugar here, it would reduce the currency we had to go out to import sugar. I will ask the government to follow the path, "said Mahama.
The plant, valued at $ 35 million, was put to sleep for lack of funds. It was also noted that the sugarcane variety intended for the factory's feed did not live up to the required specifications.
It was closed in June 2016, barely a month after it was commissioned by then president, John Mahama.
He had to produce about 1,250 tons of sugar a day.
The plant, at full capacity, can, in one year, produce 97% of the country's sugar requirements, ie 250 000 tonnes.
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