ADB disburses GHC100 million to 17 companies to promote 1D1F

Agricultural Development Bank (ADB) has so far disbursed over GHC100 million to 17 companies under the One District, One Factory (1D1F) scheme in the areas of agro-processing, aquaculture and poultry.

“As a bank with a focus on agribusiness, we will continue to fund the 1D1F initiative, mainly through outgrower schemes to help industries to operate at full capacity and create more jobs,” said a statement from the new board and management of ADB.

The ADB statement was issued at a news briefing after visiting Ekumfi Fruits & Juices Ltd at Ekumfi in the Central Region to get first-hand information on how funds extended to the facility have been used.

Daasebre Akuamoah Agyapong II, the chairman of ADB, who is also the Omanhene of the Kwahu Traditional Area, said: “The visit by the new board of directors of ADB is part of our commitment to get first-hand information on how loans disbursed to companies are being used and to further strengthen our relations with the cherished customers.”

Outgrower schemes

Daasebre Akuamoah Agyapong said through the bank’s Farm Direct Ltd the Ekumfi Juice Factory has had a constant supply of raw material to produce healthy EkuJuice and has created a thousand jobs in its catchment area.

“I wish to state that Farm Direct Ltd is of unique interest due to our outgrower scheme project funded by the bank to support Ekumfi Juice Factory,” the chief said, adding: “We have identified the outgrower scheme as a reliable way of supporting our industries with raw materials under the government’s 1D1F.”

He said the outgrower scheme also helped to create jobs in local communities to reduce the rate of rural-urban migration.

The chairman expressed his gratitude to the previous board, especially for supporting the scheme and to Farm Direct for applying the funds for the purposes for which they were intended.

“We have seen what they are doing over here and we are happy that the funds have not been misused,” he said.

Mark of quality

The board and management later handed over two tractors to the Ekumfi Juice Factory to support it in its operations.

In a welcoming address, Frederick Kobbyna Acquaah, the director of operations of Ekumfi Fruits & Juices Ltd, expressed gratitude to ADB for channelling funds through Farm Direct Ltd to support farming in the enclave to grow various kinds of fruit and to supply, in a sustainable way, the raw material the factory needs.

He thanked the bank for its support, which has helped the factory increase its capacity to process up to 200,000 fruit per day. He said the intervention will make it possible for Ghanaians see EkuJuice on the shelves of all shops selling Ghanaian produce, both at home and abroad.

“Pineapple is our base, but pineapple alone is boring. Our pineapple plus ginger received a lot of commendations,” the operations officer said.

“Our vision in itself appears in the company name: Ekumfi Fruits & Juices Ltd. What it means is that we deal with fruits generally and we are doing mixes. What we have here is multifruit processors.

“Ekumfi has been associated with quality and that is what we want to maintain and hold,” he said.

Acquaah said the company would like to have long-haul relations with ADB to venture into production of a broader range of juices. The factory can process up to ten tonnes of fruit per hour in one shift.

“Mr Chairman, supporting Ekumfi Fruits & Juices Ltd has helped create jobs in the area and an expansion means expansion of job creation,” said Acquaah. All of this is giving meaning to the slogan of ADB – ‘Truly Agric and More’.”

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