Dr. Dennis Mike Obeng
The management of bus manufacturing company—Neoplan Ghana Limited—has asked government to adopt the company under the One-District One-Factory (1D1F) programme for it to enjoy financial credit support.
The Chairman of the Board of Directors, Dr. Dennis Mike Obeng, believed the decision would help revamp the company, which is now in distress due to inadequate funding.
He, therefore, wanted the Trade and Industry Ministry to adopt the company under the 1D1F flagship programme as part of a recapitalization programme, which would eventually lead to the listing of the company on the Ghana Stock Exchange.
Speaking in an interaction with DAILY GUIDE after a tour of the facility in Kumasi, Dr. Obeng said the company currently depended on the benevolence of individual transport operators to function, and operated below its installed capacity of producing 400 buses per annum.
According to him, Neoplan now produces 80 buses annually, representing 20 per cent, besides repairs & maintenance works and if supported, it could expand production and employ additional 900 people to augment the current staff of 100.
The board chairman said the company also needed government contracts, pointing out that it was only in 2005 that Neoplan was offered a contract to produce 250 buses for the Metro Mass Transit (MMT) by the erstwhile Kufuor administration.
He said that since government has 55 per cent stake in Neoplan Ghana Ltd, it would be prudent if it gets the needed financial credit support to source raw materials from the open market to produce buses at more competitive prices.
He was convinced that the Akufo-Addo government, which is committed to creating job and propelling Ghana beyond aid, would adopt Neoplan Ghana Ltd under the 1D1F for it to stand on its feet and provide jobs for the teeming youth.
From Ernest Kofi Adu, Kumasi