Ambassador Daniel Krull (L) being briefed about the operations of the factory
The West African Mills Company Limited (WAMCO), a cocoa processing company in Takoradi has commended Ghana Cocoa Board (COCOBOD) for its immense support that has ensured the revival of the first cocoa processing factory in Ghana.
WAMCO, which used to have the state of the art machinery and equipment to turn cocoa beans into various semi-finished products for export, was shut down between 2014 and 2017.
The cocoa processing company could not get cocoa beans to process, coupled with other operational challenges, caused the shutdown of the company.
However, prior to assumption of office, the current government promised to revive the defunct company when voted into power.
The government of Ghana represented by COCOBOD has 40 per cent share in WAMCO with the remaining 60 per cent majority shares coming Hosta International AG, German investors under a Joint Venture arrangement.
Therefore upon assumption of office, COCOBOD ensured that WAMCO was supplied with the needed cocoa beans to commence production and ensure that the company, which was a hub of employment to many in the Sekondi-Takoradi Metropolis, worked again.
This came to light when the German Ambassador to Ghana, Daniel Krull visited the factory to familiarize himself with the operations of the company and engaged management and staff of the company.
The company, which has been granted a Ghana Free Zones Authority status, comprises two factories, namely; WAMCO 1 and WAMCO 2 with three (3) processing Plants, Expeller, Liquor and Hydraulic Presses Plants.
The ambassador was taken round the factory and briefed about the different technologies applied in producing semi-finished products, which are exported and later used as raw materials in chocolate confectionary worldwide.
Managing Director of WAMCO, Frank Bednar, also praised the Western Regional Minister, Kwabena Okyere Darko-Mensah who doubles as the MP for Takoradi for the significant role he played in the reactivation of the company.
“We are grateful to the government of Ghana and COCOBOD for bringing the business of WAMCO back to life”, he stressed.
He said that both shareholder groups agreed on a roadmap to revamp the two factories starting with WAMCO 1. WAMCO 1 is now operational whilst WAMCO 2 needs a major rehabilitation to make it functional again.
He revealed that the company is currently operating with a workforce of 150 and has the potential to increase the number to 250 or more if WAMCO 2 becomes operational.
It is estimated that, the company will require about $5 million additional capital to modernize WAMCO 1 and fully revive WAMCO 2.
He stated that the company has shipped cocoa products such as Natural Cocoa Liquor, Deodorized Cocoa Butter and Expeller Cake to its traditional markets in Europe, but has now expanded its market to Asia, the Middle East and North Africa.
He said WAMCO is earning foreign exchange for the country through value addition and promoting products “made in Ghana” on the international markets. He therefore appealed to COCOBOD to ensure continuous supply of cocoa beans to sustain production and growth.
The Managing Director stressed the need to invest into environmentally friendly power generation to reduce energy costs, to protect the global climate and to support Ghana meeting its national carbon dioxide emission targets.
The German Ambassador, Daniel Krull who was enthused about the revival of the company recalled how WAMCO was once the heartbeat of economic activities in the Region in particular, adding, “I believe resuscitating all two companies was pivotal to the economic future of the region and the country as a whole”.
He said the German Government was happy about the bilateral relationship between Ghana and Germany. He stated that there are various instruments and funds dedicated for energy and climate issues which could be of great support should the company decide to change its energy mix.
Ambassador Krull encouraged WAMCO to show also interest in Research and Development (R&D) and pledged to facilitate an exchange program between the company and similar establishments in Germany as well as other areas of cooperation in the fields of science and technology.
From Emmanuel Opoku, Takoradi