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Business News of Saturday, 24 November 2018


Birim Oil Mills receives lifeline under 1D1F

The Birim Oil Mills Limited is back to full operation following its recapitalization under the One District One Factory (1D1F) programme.
The factory, which for some time was non-operational, received a new lease of life, through funding by the Agricultural Development Bank (ADB) and Ecobank in response to the government’s industrialization drive.

The Mills located at Abaamu, in the Kwaebibirem Municipality, has the capacity to produce 300 tons of palm oil and palm-kernel oil every hour.
The Kwaebibirem Rural Bank has promised to invest GH¢1 million in the factory.

President Nana Addo Dankwa Akufo-Addo, performing the ceremony to inaugurate the rejuvenated mill, said the government was making progress in its efforts at transforming the economy.

The policies and interventions they had put in place were working, he added.
He said Ghana had everything it needed to become prosperous and called for the people to accept to work together to sustain the nation on the path of real progress.
President Akufo-Addo, who was on a three-day official visit to the Eastern Region, said he was determined to see to the efficient management of the country’s resources.

He urged the people to give strong support to the government in the implementation of its development agenda - create wealth and jobs.
Mr Alan Kyeremanteng, the Minister of Trade and Industry, encouraged the establishment of oil palm plantations to bring in more foreign exchange.

He made reference to Malaysia, which has been earning US$20 billion, annually, from the export of palm oil and said Ghana should do more than it was now doing.
For the country, to substantially increase its earnings from palm oil, it was important to undergo land reforms to allow for the release of large tracts of land for oil palm plantations.

He added that funding for the sector should also be upped.
Mr Kwesi Amoako, the Minister of Roads and Highways, assured the people that, roads in the area had been awarded on contract.

The contractors, he said, would be moving to site in December.
President Akufo-Addo later inaugurated a two-storey science resources centre built for the Ayerebi Senior High School, a new District Police Headquarters and a Fire Service Station, at Ofoase.

The Chief of Ofoase, Obrempon Dobi Nti, appealed to the President to provide the police in the area with a vehicle to enhance their operation.
He announced the release of land for the construction of a District Hospital.