Ghana’s second largest hydroelectric power generation company – Bui Power Authority (BPA) – has inaugurated a cashew nut processing factory established in partnership with a Chinese investor, Cash-U Company Limited.
The factory was inaugurated on Wednesday, 13th March 2024.
The project, which commenced in March 2022, is in line with Government of Ghana’s quest to drive industrialisation through the One District, One Factory (1D1F) policy, which aims at establishing at least one factory in every district of the country.
Besides, the policy aims at adding value to Ghana’s exports and reducing our import dependence, as well as stimulating overall economic development at the district level.
The factory, which was located within the 184,000 hectares of land acquired for the Bui Hydro-power project, was commenced during the time of the former BPA Chief Executive Officer (CEO), Mr. Fred Oware.
The inauguration of the factory signifies the commitment and support of BPA to leverage local resources for economic development.
The Bui enclave has a strong history in cashew farming, with nearly every household engaged in this agricultural activity.
Speaking at the inauguration, Mr Samuel Kofi Ahiave Dzamesi, CEO of BPA, highlighted that the Cash-U factory had already created direct job opportunities for approximately 55 locals.
It is projected that upon achieving full operational capacity, about 250 direct job opportunities will be created for the indigenes .
This initiative is set to improve livelihoods and promote socio-economic empowerment in the region.
Mr Dzamesi also expressed his appreciation to the Government and the President of Ghana, Nana Addo Dankwa Akufo-Addo, for his leadership through the 1D1F initiative, which aims to industrialise the country.
Mr. Lionel Wu, CEO of Cash-U Company Ltd, in his speech, expressed gratitude to BPA for its continuous support and commitment to the successful completion of the Cashew factory.
He noted that while the factory’s current focus is on processing cashew nuts for export and domestic consumption, future plans include the development and production of cashew oil for local and international markets.
In an address, the traditional councils present expressed gratitude and appreciation to the Government of Ghana, facilitated by BPA, for offering employment opportunities to the communities within the Bui enclave.
They also encouraged the Government to persist in its endeavour to create more job opportunities, especially for the youth, to reduce poverty and enhance economic growth by leveraging the resources and skills of each district.
The inauguration of the factory also aligns with BPA’s Bui City agenda to stimulate economic growth within the communities in the Bui enclave, promote industrialisation, and enhance the economic potential of the area.
Source: https:// energynewsafrica.com