Vice President, Compagnie Fruitiere, (mother company of Golden Exotics Limited) Chassang Olivier, (2nd right) with Dr. Bryan Acheampong, (right) and Benedict Rich, (3rd right) at the event
One of the largest suppliers of Fairtrade Bananas to Europe, Golden Exotic Limited, located at Kasunya Asutsuare in the Shai Osudoko District, has announced plans to expand its markets in the West African region.
“With 80% of products exported to Europe and the remaining 20% to countries including Senegal, Burkina Faso, Mali, Niger, and Benin, Golden Exotics is poised to capitalize on the opportunities presented by the roll-out of the African Continental Free Trade Area (AfCFTA), said Minister for Food and Agriculture, Dr. Bryan Acheampong.
Speaking at the 20th Anniversary celebration of the banana producing company, Dr. Acheampong said the initiative will not only bolster regional trade but also contribute to the sustainable development of the sub-region.
He indicated that the company from its humble beginnings two decades ago, has burgeoned into a powerhouse, employing 4,000 permanent workers, all duly registered with the Social Security and National Insurance Trust (SSNIT) with over 2000 hectares of banana plantation, and annual exports amounting to 100,000 tons of bananas.
He said Golden Exotics has had significant impact on the country indicating that the company generates over €60m annually in foreign exchange and contributing more than €20m to the local economy through salaries, purchases, electricity, and rent.
“Indeed, if Ghana had 20 similar projects, the ramifications for employment and economic growth would be profound,” he added.
Dr. Acheampong thus noted that the success story of Golden Exotics underscores the symbiotic relationship between public and private sectors in agricultural development.
“Leveraging government incentives and facilities, coupled with astute management and expertise, has propelled the company to great heights. I trust that the culmination of these anniversary celebrations will serve as an impetus for more private sector investments in horticulture, thus amplifying export capabilities and job creation,” he said. “I urge them to continue their exemplary stewardship, while also extending their knowledge and expertise to aspiring Ghanaian investors through initiatives like an outgrower scheme.”
Managing Director of Golden Exotics Limited, Benedict Rich, said at the core of their operation is the commitment to Corporate Social Responsibility (CSR).
“Recognizing our responsibility to uplift and empower the communities in which we operate through initiatives such as the building of medical clinics, support for mental health awareness, and the construction of schools and educational programs, we have sought to make a tangible difference to the lives of those around us,” he said.
Mr. Rich, however, noted that the journey has not been without challenges of low productivity due to poor roads, which threatens to hinder the company’s ability to deliver on its commitments, and making it difficult to match global costs of production.
He, however, said through innovation and the use of AI and drone technology, the company has been able to identify areas of need and optimize its farming practices for maximum yield and sustainability.
He used the occasion to show appreciation to Former President, John Agyekum Kufuor, and successive governments for their support over the years.
“None of this development over the years would have been possible without the invaluable support of our partners, government, local chiefs, and the communities themselves. Through their collaboration and partnership we’ve been able to navigate the complexities of land use and secure the resources and support needed to thrive,” he added.
By Jamila Akweley Okertchiri