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Home Economy

Business community urged to consider North Tongu for investment

The Ghanaian Standard by The Ghanaian Standard
July 12, 2022
in Economy
Reading Time: 3 mins read
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Economics Community Investment

Economics Community Investment - Ghana News Agency

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Mr Osborne Divine Fenu, North Tongu District Chief Executive (DCE) has appealed to potential investors and the business community to consider the district for investment and business.

He said a lot of investment opportunities abound in the district as it was endowed with arable lands, good for cultivation of rice in commercial quantity, and vegetable production.

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The DCE said the district was also blessed with abundant water resources, which could be used for irrigation to ensure all-year-round farming to accelerate food security and development.

Mr Fenu was speaking at a durbar held at Juapong by the chiefs and people of Dorfor in honour of the British High Commissioner, Ms Harriet Thompson when she paid an official visit to the district.

He said his outfit was determined to bring transformation that would improve the livelihoods of the people and that he was ready to support any idea tailored to the socio-economic development of the district.

The DCE was grateful to the High Commissioner for touring the Volta Star Textile Limited and for pledging her support in revamping and retooling the factory to create more jobs for the people.

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He said the factory some years back was producing 21 million yards of grey bafts per annum but due to challenges that had bedevilled it, production has reduced to five million yards.

Mr Fenu described the situation as worrying and appealed for support to address it, noting that the revamping and retooling of the factory would help deal with the unemployment and poverty situation in the area.

Togbe Maklalo Agbohla VI, of Dorfor Traditional Area, expressed his appreciation and that of the traditional area to Ms Thompson for the visit and appealed to her to use her outfit to support the factory.

He said the factory was not producing the grey bafts as expected and was unable to compete with the international markets because most of the machines were obsolete and needed to be replaced.

The Maklalo said Dorfor Traditional Area was ready to provide the needed support in terms of land for cotton production in large quantities.

Ms Thompson lauded the potential of the country’s textile industry and pledged her government’s support in transforming sectors of Ghana’s economy with high potential including garments and textiles.

“British Government was providing support to create the right policy environment and to drive the investment that would really see those sectors perform to their fullest potentials,” she said.

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She said her team was helping to lead the discussion that would identify the right investors for the factory, and help structure the financing in the right way to enable the factory to return to its past glory.

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Source: Caleb Kuleke
Via: Ghana News Agency
Tags: Mr Osborne Divine FenuMs Harriet ThompsonNorth Tongu District

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