• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Tuesday, January 31, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Akufo-Addo commissions Kasapreko water, juice and soft drinks factory

September 28, 2020
ShareShareShareShare

President Nana Addo Dankwa Akufo-Addo, on Monday, 28th September 2020, commissioned the Kasapreko water, juice and soft drinks factory, a company operating under Government’s 1-District-1-Factory initiative.

At a ceremony at the premises of the company at Kwadaso, in the Ashanti Region, President Akufo-Addo noted that the establishment of the factory is a concrete manifestation that the new paradigm of economic development, which his administration is vigorously pursuing, of insisting on value-addition industrial activities within a conducive and business-friendly environment, can make headway.

“This afternoon’s ceremony is in fulfilment of the promise by 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 1-District-1-Factory initiative, the President explained, focuses on the promotion of commercially viable business ventures, through the establishment of an institutional framework that will attract private sector investments in rural economic activities.

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

He continued, “The factory will produce water, juices, and soft drinks. Kasapreko, in addition to the twenty-five million United States dollars ($25 million) borrowed from Stanbic Bank for this project, also received waiver of duties on machinery and raw materials, as well as a 5-year tax holiday, which, together, will be worth twenty-eight million United States dollars ($28 million) from Government.”

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

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

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

Government, President Akufo-Addo stressed, remains committed to supporting private sector operators, like 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.

“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 Government’s unwavering support,” he added.

To companies operating under Government’s 1D1F programme and other companies operating at the local private sector operating at the district level, the President reminded them that the Ministry of Trade and Industry, in collaboration with relevant Ministries, Departments and Agencies, has established an institutional mechanism to provide strategic support and assistance to them.

“That is why we have established Business Resource Centers in sixty-seven (67) districts across the country, thirty (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,” he said.

 

Source: Jubilee House Communications Bureau
Tags: Akufo AddoElection 2020Ghana NewsKasapreko
Previous Post

Akufo-Addo inspects work on 500-bed military hospital; Kumasi Airport project

Next Post

Missing names in provisional voters’ register restored – EC [Audio]

Next Post

Missing names in provisional voters' register restored - EC [Audio]

TOP STORIES

Gulf Technology Systems, Ghana to collaborate on agric, industrial projects

January 30, 2023

Gold for oil agreement must go before Parliament – John Mahama

January 30, 2023

Don’t sign up to debt exchange – Individual Bondholders’ Forum reminds investors

January 30, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT