To boost industrialization and economic development within the Bui enclave in the Banda District, Bui Power Authority (BPA) has provided the enabling environment for the establishment of a cashew processing factory, Cash-U Company Ltd. which was commissioned on Wednesday, March 13th 2024. The project which commenced in March 2022 is in line with Government of Ghana’s quest for industrialization through the one District One Factory Policy (1D1F) which seeks to establish at least one factory in every district of the country.
The policy also aims to add value to Ghana’s exports and reduce our import dependence as well as stimulate overall economic development at the district level.
This important occasion was attended by the District Chief Executive of the Banda District, Hon. Akone, the CEO of Bui Power Authority, Hon. Samuel Kofi Ahiave Dzamesi, the CEO of Cash-U company Ltd, Mr. Lionel Wu, as well as Chiefs, management and staff from both BPA and Cash-U Company Ltd.
The development of the factory, which is located within the 184,000 hectares of land acquired for the Bui Hydro Power Project, was commenced during the tenure of the former BPA CEO, Mr. Fred Oware. The commissioning of the factory signifies the Authority’s commitment and support to leveraging local resources for economic development. The Bui enclave has a strong history in cashew farming, with nearly every household engaged in the agricultural activity.
During the commissioning, Hon. Samuel Kofi Ahiave Dzamesi highlighted that the Cash-U factory has already created direct job opportunities for approximately 55 locals. It is projected that upon achieving full operational capacity, about 250 direct job opportunities will be created for the indigenes. This initiative is set to improve livelihoods and promote socio-economic empowerment in the region. He also expressed his appreciation to the Government and the President of Ghana, Nana Addo Dankwa Akufo-Addo, for his leadership through the One District, One Factory (1D1F) initiative, which aims to industrialize the country.
Mr. Lionel Wu, CEO of Cash-U Company Ltd, in his speech expressed gratitude to BPA for their continuous support and commitment to the successful completion of the Cashew factory. He noted that while the factory’s current focus is on processing cashew nuts for export and domestic consumption, future plans include the development and production of cashew oil for local and international markets.
In an address by the traditional councils present, gratitude was expressed to the Government of Ghana, facilitated by BPA, for offering employment opportunities to the communities within the Bui enclave. The councils also encouraged the government to persist in the endeavor to create more job opportunities, especially for the youth to reduce poverty and enhance economic growth by leveraging each district’s resources and skills.
The commissioning of the factory also aligns with BPA’s Bui City Agenda to stimulate economic growth within the communities in the Bui enclave, promote industrialization, and enhance the economic potential of the area.
The completion of the Cashew Factory therefore marks a significant step towards value addition in the agricultural sector, promoting economic growth, job creation, and sustainable development within the Bui enclave and beyond.