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Business News of Monday, 27 June 2016


Ayensu Starch Factory bounces back

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Government has partnered a private company to revamp the defunct Ayensu Starch Company in the Bawjiase district of the Central region.

The factory which was established in 2002 was shut down four years later mainly due to the unavailability of raw materials resulting from the delay in payment to the farmers who supplied it with cassava. Frequent power outages and inadequate funding were also blamed for the shutdown.

Government through a Public-Private Partnership has engaged locally-owned company, Tiberias Company Limited, which now owns 70 percent of its shares. This partnership is expected to ensure full production of the factory.

It currently has staff strength of 60 made up of locals and expatriates. It also has engaged the services of over thousand farmers who would be the main suppliers of cassava to the factory.

Ms. Tetteh, who is the MP for Awutu Senya West, in which ASCO is situated, is hopeful that “this initiative will not only be in the position to supply starch to the breweries but to many other industrial establishments that also use starch in the course of their industrial process”.

“We believe that once you’re able to return to normal, continuous, consistent production, they’ll also see it possible to include you in their supply chain,” she added.

The company has the capacity to process 22,000 metric tons of cassava starch per annum. The Ayensu Starch Factory is currently the sole provider for the starch used by Guinness Ghana Brewery Limited in the manufacture of Ruut Beer.

The Foreign Affairs minister who is also acting as the Trade Minister, Hanna Tetteh said the re-commissioning of the factory goes to show “government’s commitment to revamping ailing factories across the country”.