President Nana Addo Dankwa Akufo-Addo has commissioned a new state-of-the-art manufacturing facility of Premium Foods Limited. This company operates under the Government’s One District, One Factory initiative.
The new manufacturing facility of Premium Foods, which can blend about 96,000 metric tonnes of maise, soybean, sorghum and millet annually, is one of the few manufacturing factories with such capabilities in West Africa.
So far, some 120 new jobs, comprising technical and management job openings, were created by the company. It has also provided thousands of indirect income earning opportunities to farmers and out-growers along the value chain, primarily women and youth.
Speaking at the commissioning ceremony at Kwaso in the Ejisu Municipality of the Ashanti Region, President Akufo-Addo said the new factory is a clear manifestation of the new paradigm of value-addition industrial activities within a conducive and business-friendly environment pursued by the Government.
“This afternoon’s ceremony is in fulfilment of the promise by Government, in partnership with the private sector, to set up at least one medium to large scale enterprise in every district of Ghana.”
He said Premium Foods is a classic example of the critical role agricultural production and value addition play in the economic development of countries.
The President added that “the contribution of Premium Foods Limited highlights Ghanaian ingenuity, entrepreneurial spirit, as well as the fortitude to succeed no matter the challenge.”
Over the years, Premium Foods has supplied blended fortified and non-fortified products and ingredients to global organisations, including the “Feed the Future” programme under the US Government’s Global Hunger & Food Security Initiative.
President Akufo-Addo said the Government would support private sector companies to become globally competitive and take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA) and others.
The Government, President Akufo-Addo disclosed, had, as of December 2020, granted import duty exemptions amounting to GH¢435 million to 36 companies operating under the 1D1F programme.
He said specific sectors that had benefited from the exemptions are agro-processing, ceramics manufacturing, hardware manufacturing, and vehicle assembly plants.
President Akufo-Addo indicated that prospective companies are desirous of establishing ventures in those sectors, under the 1D1F initiative, are assured of the Government’s support.
The President 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 and local participating financial institutions for providing both technical and financial support to this project.
“I also commend 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.”
Rex Mainoo Yeboah, ISD