Government has made a firm commitment to revive the Ameen Sangari Factory in Cape Coast to provide jobs and continue to support the local economy there.
The factory, was the only factory in the Cape Coast that offered hope to many unemployed youth in the ancient city.
The Management of the Company, following its shutdown, expressed optimism about a $3.8 million bank support to revamp the factory.
According to the company, negotiations for support were advanced with a leading financial institution in the country and the ‘One District, One Factory’ (1D1F) Secretariat to revive the factory.
Central Regional Minister, Justina Marigold Assan who toured the facility to assess it gave the assurance that government was committed to the revival of the company.
The Ameen Sangari Factory started its operation 10 decades ago and in 1978, the Factory was incorporated as Ameen Sangari Factory Limited. The factory has six sections: a section that produces palm oil, palm kernel oil, vegetable oil, soap and other detergents and the new section: the teak section.
Five years ago, the company started struggling with the challenge of power for production, staff pilfering and financial management issues. COVID-19 became the last straw that broke the carmel’s back and the factory was shut down for restructuring.
The Central Regional Minister, Justina Marigold Assan who toured the facility to have a first-hand information of the struggles and the prospects of the company indicated, government has started collaborating with the relevant stakeholders to give life back to the company. She says, as a matter of urgency, she would work with the management of the Company and other key stakeholders to promote sustainable development in the region.
She stated, “Government is going to ensure that this factory is operationalized. The company has greater prospects and we believe it fits into government’s vision of industrializing the local economy. We need everyone’s support to make it a success.”
The Regional Minister was convinced Ghana’s industrial sector had become a significant driver of growth in recent years and Ameen Sangari if revived could be of a greater source of help for the local economy in Cape Coast.
A Consultant to the Company, Perry Mensah says reviving the company’s operations was critical and they are hopeful government’s interest would be a major boost towards the revival of the factory.
“This was a major driver as far as employment was concerned. The company had more than 600 workers, but had to downsize the workforce to 280 due to the high cost of power, pilfering and administrative challenges,” he explained.