Ghana Seeks Capital to Revamp Two Cashew Processing Firms

Google+ Pinterest LinkedIn Tumblr +

Good news for african agriculture industry and the BrongAhafo Region as Ghana’s Government is planning to restore a couple of cashew processing factories in Tain District. The proposal has been considered under the One District, One Factory initiative.

footprint2africa.com reports that AkauForiwaaDwommoh (District Chief Executive, Dain District Charity) revealed the proposed plan of restoring the factories and Dwommoh anticipates that this step will contribute to the increase in Ghana’s value addition agenda.

Dwommoh further stated that the district features a couple of defunct cashew factories and most probably these two factories will be restored according to the plan.

There are 12 defunct cashew processing companies including these two factories under consideration, in BrongAhafo Region. Unavailability of the raw nuts was one of the reasons due to which the factories were shut down. The processing cost was also higher than anticipated which forced the authorities to shut down the factories.

Ghana Export Promotion Authority has worked very hard to restore cashew production in the country with an aim of bringing the crop back to the list of priority crops. In the coming years, cashew production will increase if the plan keeps working well.

Cashew production had been iconic in the BrongAhafo Region in the past. Still, there is a need for effective steps to enable the region benefit more from the crop. Cashew produced in the region was sold in the raw form so there is a need of processing factories to increase the value of the crop.

Due to the unhealthy competition, most of the factories were shut down which resulted in the lack of processed cashew in the region. This was a small blow to African businesses, economy and incoming investment.

Back in 2016, Ghana Export Promotion Authority released the figure of US $ 196.7 million against cashew exports. The government is now thinking critically about increasing the value of cashew crop through fine processing in order to gain more from the major crop of BrongAhafo Region.

Share.

About Author

Leave A Reply