GHANA – Western Deedew Group Company Limited, a Ghanaian rice processing company has initiated construction of a rice processing plant in Agona, Ashanti Region, southern Ghana.
Once complete, the factory is expected to have a warehouse, an ultra-modern rice miller which comes with a destoner, combine harvesters, a trans planter among other equipment which will enhance the factory’s operations.
The company said that suitability of the region for rice cultivation and the favourable rainfall pattern which is expected to boost rice yields informed its decision to invest in the facility.
Establishment of the factory has received support from the government and local authorities as it is expected to improve the social-economic welfare of the residents once it is fully operational.
The company has secured of Ghc2.5 million (US$0.46m) in funding from the GCB Bank Limited for setting up the processing plant. The project is in line with the government’s One District One Factory policy.
The government has also committed to give the company a 10% cut in interest rate, and no duties will be charged on its equipment being imported for the factory, also it will enjoy a five-year tax holiday when it begins full operations.
Western Deedew Group Company Limited plans to package three separate long grain rice which will all have different qualities: Western Deedew Rice (single polished), Ashanti Royal Rice (double polished), Ghana Perfect Rice (triple polished).
The firm joins other players in the rice industry and its Executive Director, MR. Amofa Akuoko as it seeks to consolidate its footprint in West Africa ahead of major competitor including Olam’s Rice Mill in Nigeria.
The investment comes as major boost to the country’s ambitions of achieving self-sufficiency in rice production by 2023.
Rice is an important commodity in the country’s food basket. Ghana projects domestic rice production to increase from the current 456,000 metric tonnes of milled rice (2018) and reaching self-sufficiency by producing 1,665,000 metric tonnes by 2023.
In line with this, the government has rolled out several with an aim to increase production by addressing the current deficit level of 656,000 metric tonnes to a surplus of 365,230 metric tonnes in 2023.
