President John Dramani Mahama has revealed that authorities were currently negotiating with a potential investor to bring the Komenda Sugar Factory back into operation.
He noted that moves to get the plant running again started prior to his government taking power, after initial talks between the former administration and a possible investor.
He said the Ministry of Trade has already held discussions with the investor to review plans for resuming activity at the facility.
President Mahama stated that the investor is seeking a restriction on imported refined sugar to protect the domestic market for the factory’s products. However, he emphasised that any such decision would depend on a thorough review of the investor’s ability to produce enough sugar.
“What he wanted was a ban on imported sugar so that he would have the local market. But we also need to assess his capability before we issue a ban. Otherwise, supply may not be able to meet demand,” the President said during his visit to the Central Region on Saturday, June 27.
He added that negotiations are continuing and said the government could eventually look at cutting back on sugar imports in stages to boost local output, while still meeting consumer needs. “We are still engaging the investor and we may gradually reduce imports to create space for local production while ensuring that the country’s demand is adequately met,” President Mahama added.