Cocoa processing companies have welcomed the 50 per cent cocoa retention policy introduced by John Dramani Mahama, describing the measure as a significant step toward strengthening local processing and value addition within Ghana’s cocoa industry.
In response to the policy, the Deputy Managing Director of West Africa Mills Company (WAMCO), Boakye Danquah, has appealed to the government to rehabilitate the company’s second processing facility, WAMCO Two, located in Sekondi-Takoradi, to enhance production capacity.
Meanwhile, the Western Regional Minister, Joseph Nelson, has reaffirmed the government’s commitment to supporting the company’s recovery and expansion.
Established in 1949, WAMCO holds the distinction of being the first cocoa processing company in Ghana.
The Government of Ghana, through the Ghana Cocoa Board (COCOBOD), currently maintains a 40 per cent stake in the company.
WAMCO operates two processing facilities—WAMCO One and WAMCO Two—with a combined production capacity of about 60,000 metric tonnes.
However, operations have declined significantly in recent years.
WAMCO Two, which accounts for half of the total capacity at 30,000 metric tonnes, has become redundant due to technical challenges and inadequate supply of raw cocoa beans.
As a result, only WAMCO One remains operational, with a capacity of 30,000 metric tonnes.
Even then, the plant is currently operating at only about 30 per cent of its capacity due to insufficient raw material supply.
During a working visit by the Western Regional Minister, the Managing Director of WAMCO, Frank Bednar, welcomed the government’s 50 per cent cocoa retention policy, noting that increased local processing is key to boosting revenue and creating jobs within the sector.
Dr. Danquah also appealed to the government and potential investors to support the company with an investment of between five and seven million dollars to revamp the facility.
According to him, retooling WAMCO Two would be critical for the economic revitalisation of Sekondi-Takoradi and could secure more than 200 direct jobs.
Mr. Nelson, for his part, assured the company of the government’s readiness to assist in restoring its operations and improving productivity within the cocoa processing industry.
Source: Classfmonline.com
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