Volta gets two new companies under the 1D1F project.
Despite the hurdles that the government’s “One District, One Factory” project has faced, the Volta Region has finished and successfully operationalized two additional firms. According to Graphiconline
The companies: Moonlight Fresco Ltd, an agricultural processing firm, and Flosell Limited, a fish farming firm, are both located in the South Tongu District.
Moonlight Fresco Ltd is a new firm that began operations in 2019, whereas Flosell Limited, which has been in existence for six years, received financial support from the policy in 2018 to expand its activities.
Moonlight Fresco Ltd., a newcomer, has a 3000-acre plot of land with a large-scale commercial farm.
The firm is now cultivating 200 acres of okra, 100 acres of papaya, and 800 acres of banana for export.
Challenges
The firm, which employs around 400 people, has had its share of difficulties. The outbreak of the COVID-19 pandemic harmed the company’s worldwide aspirations.
Following a year-long border shutdown that impacted exports via flights and cargo, the issues grew even more acute. However, Flosell Limited, which specializes in tilapia farming, has increased its operations to employ 55 people and create over 100 indirect employment.
Mr Kwadwo Danso, the company’s manager, said the initiative’s assistance had increased the company’s productivity and production.
Despite the excellent news, the region is still falling behind on the initiative’s execution, since the majority of the factories named have yet to be built.
Only four manufacturers, including two existing manufacturers that received financial support under the 1D1F, are projected to thrive in the region.
Hormeku Engineers and Planners (HoPE), one of the new factories that was supposed to be finished in January 2021, is still under construction four months later and is presently at the roofing stage.
Financial backing
As part of the plan, the government offered financial support for two pre-existing firms in the region in 2018.
Caltech Ventures, a biofuel production facility, and Volta Forest Products Limited, a timber processing facility, both in the Ho and Hohoe towns, got government subsidies to help them expand their operations and create jobs.
Other facilities, such as honey and cassava processing industries in Afadjato South and the Keta Municipality, have yet to see the light of day due to financing delays and fragile land lawsuits that have handed the plan a major setback.
While the operating space for Hormeku Engineers and Planners (HoPE) Limited in the Keta Municipality is yet to be completed, community members, including the teeming unemployed and farmers in the area, eagerly await its benefits.
Source graphiconline.com
