The Government of Ghana is looking for prospective investors to buy 70% stake in the Komenda sugar factory. The information was contained in Daily Graphic publication on 30th August 2016.
According to the publication:
“Government of Ghana (GoG”) acting through the Ministry of Trade and Industry (“MoTI) has appointed PwC to assist as Transaction Advisor, to identify an Investor/Manager of the factory when it becomes fully operational. The potential Investor/Manager will be expected to invest in the day-to-day management and operations of the Sugar Factory to improve the economic prospects of Komenda and its surrounding communities.
To achieve this, GoG through MoTI is inviting prospective bidders to submit sealed bids to acquire 70% of the shares of KSF.”
See excerpt of the publication in Daily Graphic below.
The effect of the above is that GoG wants to sell the company to an interested party. This comes barely 3 months after the official inauguration of the company. The main opposition party (NPP) as well as other organisations (including IMANI) indicated at the time of the inauguration that the project was not viable but government dismissed their concerns.
What will become of the ailing factory? Time will tell!
Story by: Ghanaulturepolitics.com