The AgriculturalDevelopment Bank (ADB) has provided a GH¢30 million (€4.2 mln) funding facility to the Ekumfi Fruits and Juices Limited as part of its outgrower scheme to cultivate adequate pineapples to feed the factory.
According to the Managing Director of the bank, Dr John Kofi Mensah, the bank as part of its mandate to support the growth of agribusinesses had provided the funding support, which was the first phase, to enable the factory to have enough raw materials to feed the factory for all year round production.
Mensah: “Some factories regularly imported concentrates and other raw materials for production leading to huge cost of production and that ADB as part of its outgrower and in-grower scheme will support the factory to have raw materials to produce its products to meet the demand of the market.”
The Managing Director added: “One key importance of the outgrower scheme being spearheaded by the bank and its agribusiness division is that it will create thousands of jobs for the people in the areas where the scheme is being implemented.”
He stressed that ADB was committed to the provision of jobs to many people through the outgrower scheme, saying “As a bank, we will fully support factories that are agribusiness in nature to provide direct and indirect jobs to the youth.”