President Addo Dankwa Akufo-Addo on Tuesday paid a visit to Global Almas Processing Ltd, a yam and cassava processing factory located in Bimbilla, in the Northern Region.
The Deputy Minister for Trade and Industry, Michael Okyere Baafi, who took the President to tour of the factory, said the company had taken advantage of the available local raw materials in Nanumba and surrounding areas to process yam and cassava flour for domestic and foreign markets.
According to the Deputy Minister, Global Almas has a land bank of more than 2,000 acres at Bimbilla and additional land would be acquired as the operations expand with an anticipated increase in demand for products.
He noted also that the factory produces 1,000 cartons of Yam Fufu Flour per day, under the brand name Almas Yam Fufu Flour, requiring the purchasing of 10,000 yam per day.
As regards the cassava processing line, about 200 bags of cassava flour are produced a day, with the company engaging some 20 farming groups.
Mr Baafi indicated that the total cost of the factory is pegged at GH¢9.2 million, with a 60% equity contribution from the Promoter translating to about GH¢5.2 million. The Ghana Exim Bank has also provided a credit facility of GH¢1 million (10.8% of the total project cost) which was disbursed in February 2021.
Global Almas has, thus far, created more than 74 direct jobs and over 400 indirect jobs.
Already, the company has signed an agreement with Sinostone Ethanol Manufacturing Company located in Juapong to supply 1,000 tons of cassava chips every month. Another agreement has been concluded with Bofas Company Limited located in Wa for the supply of a 40-foot container of yam fufu flour every month for export to the US market.
Rex Mainoo Yeboah, ISD