President Nana Akufo-Addo has commissioned an expanded food and beverages company under the One District, One Factory project.
The commissioning of Healthy Life Beverages Company is part of government’s commitment to empower local industries to add value to raw materials and to export for foreign exchange.
With the stimulus package given to the company, the president said the government is on course to deliver the ‘Ghana Beyond Aid’ agenda it promised in the 2016 campaign.
Joy News reported the president as saying the government has so far made available ¢270 million stimulus package for 16 companies to expand, increase production and create jobs.
The commissioning of the expanded Healthy Life Beverages Company was done as part of the president’s three-day tour of the Greater Accra Region.
Healthy Life Beverages, which has been in existence for over a decade, specializes in producing fruit drinks, soya milk for export into the West African market.
Its Managing Director, Nuamah Fameye, said the stimulus package under the 1D1F project has undoubtedly expanded the mode of operations of the company.
Even though it employs 300 workers, Mr. Fameye said they are increasing the number to a 1,000 as a result of the stimulus package.
He said the company has so far spent $50 million of its own equity and commercial loans and is happy to have benefitted from the package.
“Permit me to express my appreciation to the Minister of Trade for selecting our company to be part of the president’s vision to support indigenous Ghanaian businesses.
“The stimulus package seeks to reduce the burden of high interest on commercial loans for indigenous businesses. We are very grateful for your approval and wish to thank you for letting us join this eminent group and letting us prosper,” he said.
While grateful for the intervention, Mr Fameye appealed to the government to add an extra $10 million to enable the company complete its expansion ambitions.
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