Mr. Kobina Tabia Hammond, Minister for Trade and Industry, has announced that the Komenda Sugar Factory, located in the Central Region, will be leased to a private investor for a period of 15 to 20 years. This move is part of the government’s efforts to generate revenue and foster economic growth.
The Minister made this announcement during a visit to the factory to conduct a test run of the machines, ensuring their effective operation after years of refurbishment. “1,000 tonnes of raw sugar have been imported for the test run of the Komenda Sugar Factory,” he stated.
Mr. Hammond explained that the testing aims to stabilize the machines for the production of refined sugar. The leasing of the factory has been approved, and investors are expected to begin operations soon, although the lease amount and commencement date have yet to be disclosed.
He emphasized that the sugar factory is fully owned by the government and that the leasing contract would be subject to the company board’s approval to ensure smooth operations. The lease agreement includes a provision for renewal after the initial lease period.
The factory, commissioned by former President John Mahama before the 2016 election, has remained idle due to insufficient raw materials to sustain operations. The John Mahama administration secured a $24.5 million loan to facilitate the planting of sugarcane, ensuring a steady supply of raw materials for the factory. However, no sugarcane has been planted since President Akufo-Addo took office in 2017.
