Government, has disclosed it was looking for a strategic investor in a Public Private Partnership (PPP) deal to help revive the beleaguered Ayensu Starch Company in Bawjiasi, which is facing numerous operational and administrative challenges, hence its inability to meet demands of its customers and thus incurring losses.
The starch factory, which was established in 2004 under the erstwhile Presidential Special Initiative (PSI) with many prospects has not function to expectation, prompting government to look for a strategic investor to partner and make the company play its role in the socio-economic lives of people in its catchment areas.
During a tour of the facility, Deputy Minister for Trade and Industry, Kweku Ricketts-Hagan, disclosed that the urgent need for a partner to restructure the factory and strengthen its finances to meet demand, adding that private investors have proven over the years to be better managers of such facilities.
Mr Ricketts Hagan was, however, quick to add that, looking for a private partner will not result in job cut, but rather expand the factory as it is currently producing way below capacity, “so more hands will be required”.
Mr James Biitir, Coordinator at the factory in his remarks, said that they have a contract with Guinness Ghana Limited (GGL) to supply starch, but has not been able to fulfill their side of the contract because of production challenges, noting that only half of the 1300 acres of land allocated to them has been used.
Mr Biitir, further welcomed government’s decision to look for an investor to help revive the Ayensu Starch, saying it will end all agitations by workers, enable them meet demands of their customers and put the factory on a path to success.
He also assured government and possible investors of their cooperation and stated that they would work diligently to ensure the success of any partner who comes on board.