President John Dramani Mahama has commissioned a GH¢148.4 million cashew processing factory in Techiman, a significant investment aimed at boosting local value addition, creating jobs, and strengthening Ghana's agro-industrial sector. The Nadkansco Cashew Processing Factory, financed by the Ghana Export-Import Bank (GEXIM), is expected to have a substantial impact on the local economy. This project is part of Ghana's industrialisation drive, leveraging agriculture for economic growth and job creation.
The factory is projected to create 1,500 direct jobs when it reaches full operational capacity, with the ability to process 100 metric tonnes of raw cashew nuts per day. This will significantly reduce the export of unprocessed cashew nuts while increasing domestic processing and value addition. The investment is also expected to improve livelihoods for thousands of farmers and workers connected to the industry. The project's impact will be felt across the cashew value chain.
GEXIM has invested an additional GH¢12 million in workforce development and capacity-building programmes to support the project's long-term sustainability. Currently, 600 workers are undergoing training ahead of the commencement of full operations. This investment in skills development will ensure the project's success and create a skilled workforce. The company has also established an outgrower scheme comprising 6,000 cashew farmers.
The outgrower scheme aims to ensure a reliable supply of raw materials for the factory. So far, 1,200 farmers within the network have received specialised training funded by GEXIM. This initiative will help improve the livelihoods of farmers and increase the quality and quantity of raw materials supplied to the factory. The project is expected to contribute significantly to efforts aimed at promoting agro-industrial development.
Industry stakeholders believe the project will help retain more value within the local economy by reducing dependence on raw cashew exports and encouraging agro-processing. The commissioning of the facility represents another milestone in Ghana's industrialisation drive, which seeks to leverage agriculture as a catalyst for economic growth, job creation, and export expansion. This project will enhance competitiveness and drive sustainable economic transformation.
The factory's impact will be felt in the local community, where it is expected to create employment opportunities and improve livelihoods. The project's success will also have a positive impact on the national economy, contributing to Ghana's economic growth and development. The investment in the cashew processing factory is a significant step towards achieving Ghana's industrialisation goals.
The project is a significant boost to Ghana's cashew value chain, expanding local processing capacity and creating employment opportunities. The factory's commissioning is a testament to the government's efforts to promote agro-industrial development and drive sustainable economic transformation. The project's impact will be monitored closely, and its success will be evaluated based on its contribution to Ghana's economic growth and development.
Key points
- The project is expected to create 1,500 direct jobs and process 100 metric tonnes of raw cashew nuts per day.
- GEXIM has invested GH¢12 million in workforce development and capacity-building programmes.
- The project will help retain more value within the local economy by reducing dependence on raw cashew exports.
