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1D1F: Akufo-Addo commissions Kasapreko water and soft drinks factory

President Akufo-Addo has commissioned the Kasapreko Water, Juice and Soft Drinks Factory under the 1D1F flagship programme

On Monday 28 September 2020, President Nana Addo Dankwa Akufo-Addo commissioned the Kasapreko Water, Juice and Soft Drinks Factory, a company operating under the government’s One District, One Factory (1D1F) initiative.

At a ceremony on the premises of the company in Kwadaso, in the Ashanti Region, President Akufo-Addo declared that the establishment of the factory is a concrete manifestation of the model of economic development that his government is pursuing vigorously, of insisting on value-addition industrial activity within a conducive and business-friendly environment. It shows amply, he said, that this new paradigm can make headway.

Guests at the commissioning ceremony

“This afternoon’s ceremony is in fulfilment of the promise by the 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.

The One District, One Factory initiative, the president said, focuses on the promotion of commercially viable business ventures by establishing an institutional framework that will attract private sector investment in rural economic activity.

“In response to this, Kasapreko Company Ltd took the initiative, with the support of the government, to build this new factory at Tanoso, in the Kwadaso District of the Ashanti Region,” he said.

“The factory will produce water, juices and soft drinks. Kasapreko, in addition to the US$25 million borrowed from Stanbic Bank for this project, also received a waiver of duties on machinery and raw materials, as well as a five-year tax holiday, which, together, will be worth US$28 million from the government.”

President Akufo-Addo addresses guests at the commissioning ceremony

Local packaging, sub-regional market

With a capacity to produce 35,000 bottles of juices and non-alcoholic soft drinks every hour and 15,000 bottles of water per hour when working at full capacity, the factory will employ 300 people directly, the president noted, and also generate 3,000 indirect jobs through the supply chain.

President Akufo-Addo applauded the company for sourcing 90% of its packaging materials domestically, as the bottles, caps and cartons are all produced in Ghana.

The Kasapreko Tanoso factory will serve the Ahafo, Ashanti, Bono, North East, Northern, Savannah, Upper East and Upper West Regions, as well as export products to neighbouring countries such as Burkina Faso and Côte d’Ivoire.

The government, President Akufo-Addo stressed, remains committed to supporting private sector operators such as Kasapreko to become globally competitive and, thereby, take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA), whose secretariat has been established and commissioned in Accra.

Political and business commitment

“I am particularly pleased that a successful and innovative company like Kasapreko is finding new opportunities under the 1D1F policy, and would like to assure them of the government’s unwavering support,” he said.

The president reminded companies operating under the government’s 1D1F programme, and other local private sector companies operating at the district level, that the Ministry of Trade and Industry has established an institutional mechanism, in collaboration with related ministries, departments and agencies, to provide them with strategic support and assistance.

“That is why we have established business resource centres in 67 districts across the country, 30 of which have already commenced operations. I commend the shareholders and management of Kasapreko for their diligence and commitment towards boosting the capacity of our nation towards self-reliance,” President Akufo-Addo said.

Click to listen to President Akufo-Addo during the commissioning ceremony.

 

Wilberforce Asare / Asaase Radio

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