Ghana Exim Bank supports Akuapem Gold Agro Processing as a legacy project under 1D1F

Lawrence Agyinsam, CEO-GEXIM, addressing the gathering at Nkronso in the Eastern Region

The Ghana EXIM Bank is on course to deliver on its mandate to establish its planned construction of Legacy Projects approved by the Board, Mr. Lawrence Agyinsam, Chief Executive Officer of the company has said.

He was speaking at the official launch of Akuapim Gold Agro Processing Ltd., a 1D1F GEXIM-funded project at Nkronso in the Eastern Region.

Mr. Agyinsam said five Legacy Projects will be supported to boost the economy of Ghana.

He said Akuapim Gold Processing Ltd. is one of the Legacy Projects and involves the establishment of plantations, out-grower schemes and construction of a state-of-the-art factory at Nkronso.

The CEO said one of the key focus areas of the Bank is to support the 1D1F initiative, which seeks to transform Ghana’s economy into an export-led one so as to drive sustainable development in Ghana.

At a well-organised and attended launch of the project, Mr. Lawrence Agyinsam shared with the august gathering that Non-Traditional Export Commodities have been a major source of foreign exchange and recorded consistent revenue-growth over the years. “Statistics indicate that the sub-sector’s contribution to the overall export revenue basket is expected to reach 45% if given the needed support.”

The CEO said that in pursuance of the Bank’s mandate, the GEXIM has resolved to support the private sector strengthen the production and export chains of marked priority commodities, as well as diversify and expand the sector-scope to include the development of raw material bases and efficient value chains for new innovative high-earning commodities, such as Avocado, Herbs, Spices, Coconut, among others.

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In actualising its Priority projects, Mr. Agyinsam intimated that the Akwapim Gold Avocado Processing Project is one of the first set of innovative programmes Ghana EXIM Bank is supporting, and he is hopeful that its objectives will be achieved.

“Distinguished Ladies and Gentlemen, GEXIM aims to create over one million jobs, equitably spread across the country; increase Non-Traditional Exports by 90 percent, and create new value chains for agricultural products through the 1D1F. It is reassuring that the Akwapim Gold Project will engage over 1,000 out-growers over the life-cycle of this ambitious project.”

The project involves the cultivation, production and processing of hybrid Avocado pear for export, in addition to construction of a state-of-the-art Processing Factory.

Cultivation of large-scale acres of land for production is expected to be undertaken at Asafo and Begoro under the first phase of this Legacy Project.

Other dignitaries who addressed the gathering included Dr. Owusu Afriyie Akoto, Minister of Food and Agriculture; Mrs. Gifty Ohene-Konadu, National Coordinator, 1D1F Secretariat; the CEO of Ghana Export Promotion Authority, Mad. Afua Asabea Asare; Hon. Eric Kwakye Darfuor, Eastern Region Minister; and Mr. Joe Danquah, CEO, Middle Belt Development Authority.

Okyehene Osagyefo Amoatia Ofori Panin chaired the event. He expressed his Paramountcy’s appreciation and gratitude to President Nana Addo Dankwa Akufo-Addo for fulfilling his promise under the 1D1F programme, and pledged his total support toward successful implementation of the project.

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