The President of the Republic, Nana Addo Dankwa Akufo-Addo, commissioned another factory under the Government’s 1-District-1-Factory initiative. The factory, Premium Foods Limited, situated at Kwaso in the Ejisu Municipality of the Ashanti Region, is an Agro-processing company with strong portfolio serving wide range of clients.
Speaking at commissioning, President Akufo-Addo explained that the establishment of the factory is a clear demonstration that the new paradigm of economic development of insisting on value-addition industrial activities within a conducive and business-friendly environment is making headway.
He observed that Premium Foods is a classic example of the critical role agricultural production and value addition play in economic development of countries, saying “the contribution of Premium Foods Limited highlights Ghanaian ingenuity, entrepreneurial spirit, as well as the fortitude to succeed no matter the challenge”.
The president also expressed joy that the factory will provide some thousands of direct and indirect jobs for farmers and out-growers along the value chain especially women and the hardworking youth of the Ashanti Region.
“I am pleased to learn that this new factory is generating some one hundred and twenty (120) new jobs, made up of technical and management professionals, and is creating thousands of indirect income earning opportunities for farmers and out-growers along the value chain, mostly women and youth, in all parts of the country,” President Akufo-Addo said.
He renewed Government’s resolve to supporting private sector operators, like Premium Foods, to become globally competitive, and, thereby, take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA), “who’s Secretariat is located right here in Accra”.
“To this end, Government, as at December 2020, has granted import duty exemptions to thirty-six (36) companies, under the 1D1F programme, amounting to some four hundred and thirty-five million cedis (GH¢435 million),” he said.
He further explained that the main sectors that have benefited from the exemptions are agro-processing, ceramics manufacturing, hardware manufacturing, and vehicle assembly plants.
“Prospective companies desirous of establishing such ventures, under the 1D1F initiative, are assured of Government’s unwavering support, and I appeal to them to join hands with Government in the journey to industrialize Mother Ghana, and help create jobs for Ghanaian youth in all parts of the country”
President Akufo-Addo commended the collaboration between the World Food Programme (WFP), the Canadian High Commission in Ghana, the United States Agency for International Development (USAID), the Alliance for a Green Revolution in Africa (AGRA), the African Development Bank (AfDB), Department for International Development (DFID), the J.A Kufuor Foundation, as well as local participating financial institutions for providing both technical and financial support to this project.
“I commend also the proprietors and management of Premium Foods Ltd., led by Mr. Tom Gambrah, a seasoned Ghanaian entrepreneur, for spearheading the establishment of this state-of-the-art manufacturing facility. I am confident that the best days of Premium Foods Ltd., and, indeed, of Mother Ghana, lie ahead,” he added.
