Taking the President on a tour of the factory, the Deputy Minister for Trade and Industry and Member of Parliament for New Juaben South, Hon. Michael Okyere Baafi, indicated to the President that the company has taken advantage of the available local raw materials in the Nanumba and surrounding areas to process yam and cassava flour for both domestic and foreign markets.
According to the Deputy Minister, Global Almas has land bank of more than 2,000 acres at Bimbilla, and additional land would be acquired as the operations expand with anticipated increase in demand of products.
He noted also that the factory produces 1,000 cartons of Yam Fufu Flour per day, under the brand name Almas Yam Fufu Flour, requiring the purchasing of 10,000 yam per day.
With respect to the cassava processing line, some 200 bags cassava flour is produced per day, with the company engaging some 20 farming groups, who have committed themselves to producing for the factory.
Hon. Baafi indicated to the President that the total cost of the factory is pagged at GH¢9.2 million, with 60% equity contribution from the Promoter translating to about GH¢5.2 million. The Ghana Exim Bank has also provided a credit facility amounting to GH¢1 million (10.8% of the total project cost) which was disbursed in February 2021.
Global Almas has, thus far, created more than 74 direct jobs including Management, Supervisors, Food Scientist, Laboratory Technician and Maintenance Technicians as well as women who are involved in the peeling, cleaning, bagging, stitching machine attendants and sorting of the yam/cassava.
In addition, over 400 additional Indirect jobs have been created for out-growers, transporters, harvesting team, packaging & handling, sales outlets, etc.
Already, the company has signed an agreement with Sinostone Ethanol Manufacturing Company located in Juapong to supply 1,000 tons of cassava chips every month. Another agreement has been concluded with Bofas Company Limited located in Wa for the supply of 40-foot container of yam fufu flour every month for export to the US market.