GEXIM lauds efforts of newly tomato processing factory – Weddi Africa Limited

Chief executive officer of the bank, Mr Lawrence Agyinsam stated that his outfit was delighted to recognise the opportunities that Weddi Africa Tomato Processing Factory and Agro Farms had created and will be creating in terms of the numerous jobs its establishment had brought to the Domfete community, near Jinjini in the Berekum District of the Bono Region.

The $16 million factory is captured under government’s ambitious 1D1F initiatives. The factory is set up to process tomatoes into tomato concentrate and paste under the brand name ‘Sweet Mama Tomatoes Mix, for both domestic and export markets.

The wholly-owned Ghanaian company had stimulated both direct and indirect employment, culminating in about 80 permanent staff, set to increase to about 400 at full capacity while providing market access to over 2,000 tomato farmers within its catchment area.

In addition, a model farm and research centre designed to conduct seed trials and train farmers on best farm practices, as well as an agric-input shop to supply inputs to the farmers at affordable prices, have been established by the company.

“It is our expectation and hope that this state-of-the-art agro-processing plant would be efficiently managed so as to enable it meet its obligations to its stakeholders and, more importantly, play its supportive role in promoting made-in-Ghana goods,” Mr Agyinsam said.
The GEXIM CEO recalled that Weddi was one of the viable and sustainable green project proposals that sought financing from the bank in 2017. The assistance was to augment the equity contribution of the company to enable it complete the construction and installation of a 10-tonne-per-hour integrated state-of-the-art tomato-processing factory.

Mr Agyinsam disclosed that GEXIM did not hesitate to support the company with the requisite financial support after they had met our credit approval processes.

The support was to augment the equity contribution of the company to enable it complete the construction and installation of a 10-tonne-per-hour integrated tomato-processing factory.

As a development and policy bank, the establishment of the factory was indicative  of the importance of “our role in the social, economic and industrial development of Ghana, and we are well positioned to continue to play this cherished role in our industrial development of the country.”

Source: The Finder