Business News of 2014-03-20

Techiman Cashew Dealers appeal to gov’t for support

The Techiman Cashew Dealers Association has appealed to government to support the industry to process the commodity into finished products.

Mr Tony Asare, Managing Director of Techiman-based Rastony Cashew Trading Enterprise, and an executive member made the appeal on behalf of the Association in an interview with the Ghana News Agency (GNA) on Monday at Techiman in the Brong-Ahafo Region.

He said the cashew crop had so many uses and cited that its fruit that is seen as a wasted product now can be processed into alcoholic beverage.

Mr Asare suggested that the Government could through the Public-Private-Partnership (PPP) set up a processing plant at a central location like Techiman, because of the proximity to raw materials, to process the cashew commodity into various valued products.

He noted such a move would expand the avenue of job opportunities in the industry, saying, beside factory workers and other beneficiaries, farmers and casual labourers could to do the fruit picking in the farms.

Mr Asare emphasised that there were more advantages the nation could derive from the industry, citing the injection of foreign cash into the economy by the exporters as well as job creation and income generation for the haulage industry to the warehouses by the wholesalers and retailers as well as to the ports for export.

He stated that Brong-Ahafo was noted for best quality cashew nuts, hence any government support, coupled with low interest rates on loans from the banks to dealers and farmers would make the industry more vibrant in the region.

Mr Asare indicated that one major benefit the region had currently gained from the cashew industry was the reduction of illegal, hazardous migration of the youth to Libya and other foreign countries for greener pastures.

He said the industry had engaged most of the hitherto unemployed youth in the Techiman, Nkoranza and other areas in the region, where the zeal to embark on such dangerous journeys for economic fortunes were rampant.