President Nana Addo Dankwa Akufo-Addo Monday commissioned the Kasapreko Water, Juice and Soft Drinks Factory at Kwadaso in the Ashanti Region.
The company, operating under Government’s One -District- One-Factory (1D-1F) initiative, has the capacity to produce 35,000 bottles of juices and non-alcoholic soft drinks per hour, and 15,000 bottles of water per hour.
The factory, which will employ 300 people directly, and generate 3,000 indirect jobs through the supply chain, will cater for the Ashanti, Bono, Ahafo, Northern, Savannah, North East, Upper East and Upper West Regions, as well as export to neighbouring countries including Burkina Faso and Côte d'Ivoire.
Speaking at the ceremony, the President said the factory was evidence that government's insistence on a value-added industrial development as a panacea for economic growth was making a head way.
He indicated that commissioning of the factory was a fulfilment of the promise by Government to partner the private sector to set up at least one medium to large scale enterprise in every district of the country.
President Akufo-Addo noted that the Kasapreko Company Ltd, with government's support, took advantage of the 1D-1F initiative, which focused on the promotion of commercially viable business ventures, to build the new factory at Tanoso, in the Kwadaso district of the region.
He disclosed that as an incentive to attract private sector investments in rural economic activities, government had granted a waiver of duties and taxes on machinery and raw materials, as well as a 5-year tax holiday to Kasapreko Company to nurture the new factory.
He further applauded the company for sourcing 90 per cent of its packaging materials domestically.
The President emphasized that government remained committed to supporting private sector operators, like Kasapreko, to become globally competitive, and to take advantage of market integration frameworks such as the African Continental Free Trade Area (AfCFTA).
“I am particularly pleased that a successful and innovative company like Kasapreko is finding new opportunities under the 1D1F policy and would like to assure them of Government’s unwavering support.
"I commend the shareholders and management of Kasapreko for their diligence and commitment towards boosting the capacity of our nation towards self-reliance,” he said.