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OKYENHENE's AVOCADO PLANTATION RECEIVES BOOST

General News

The Ghana Export-Import Bank (Eximbank) has given indications that it is ready to financially support the Okyenhene’s avocado plantation in the Kwaebibirim district of the Eastern Region.

The Ghana Export-Import Bank (Eximbank) has given indications that it is ready to financially support the Okyenhene’s avocado plantation in the Kwaebibirim district of the Eastern Region.

The support from the bank was disclosed when management visited the Okyenhene at his palace last Friday.

The chief executive officer of Eximbank Ghana, Lawrence Agyinsam, assured Okyenhene Amoatia Ofori Panin II that the bank shares in his vision to help develop avocado in the region to create employment for the youth and also generate revenue for the country.

"Avocado is the new cash cow; the benefits internationally is enormous as the product is used for oil and in the cosmetics business. So far, Kenya is a country that is seriously giving attention to the production. We believe Ghana could get into it; that is why we want to support Okyenhene and other private people who have approached us for the development of avocado in Ghana,” the CEO said.

Mr Agyinsam revealed that the board of the bank had approved 34 projects out of which 13 had qualified for the 1D1F.

According to the CEO, the bank has disbursed funds for the processing of briquette by Zureal Company to manufacture charcoal for export to Turkey and other places.

In the Ashanti Region, the bank has approved two oil palm processing at Juaben and Obuasi and two poultry industries in Kumasi.

Mr Agyinsam further revealed that in the Greater Accra Region, the bank had disbursed close to US$50,000,000 to various pharmaceutical industries.

He added that this is to help the pharmaceutical industries achieve Good Manufacturing Practices (GMP) by 2020, which is a requirement by the World Health Organization (WHO).

In his response, the Okyenhene called for a paradigm shift in Ghana's developmental agenda, stressing that there should be concerted effort to develop agriculture to change the face of Ghana.

“In South America we have banana millionaires. Can we boast of cocoa millionaires in Ghana?” the Okyenhene asked.

He was happy with the bank’s initiative to propel Ghana’s industrialisation drive and charged them not to disappoint the state as it discharges it duties as a financial supporter for development.

"Be diligent in your operations and give assistance to people and organizations who mean well to the growth and development of Ghana,” Okyenhene stated.

The board of the bank, led by its Chairman, Kwadwo Boateng Gyamfi, assured Okyenhene that it would ensure that the bank carried its mandate in assisting businesses to help in the industrialization agenda of the country.