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WAMCO Makes $600,000 Profit   
 
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14-Nov-2018  
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The West African Mills Company (WAMCO), a cocoa processing company in Takoradi, has recorded a total profit of $600,000 from the export of its products since last year after the revitalization of the production line at WAMCo 1.

The company, which has state-of-the-art machinery and equipment to process cocoa seeds into various products for export became defunct for several years under the previous NDC administration.

This was because cocoa processing company was not supplied with cocoa beans to process despite the fact that Ghana was second in the supply of cocoa beans to the international market in Africa.

The current New Patriotic Party (NPP) administration, upon the assumption of office, took a significant decision to revitalize the company.

This was done through effective engagement with the Ghana Cocoa Board (COCOBOD) and all relevant institutions to bring back redundant employers of the company.

Since that time significant progress has been made and the company has used $10 million to purchase over 70,000 tonnes of beans to boost production.

This was after repair and maintenance works at the liquor plant and the expeller machines had been carried out.

Government has 40 per cent shares in WAMCO while other investors hold 60 per cent majority shares.

WAMCO produces 200 tonnes of butter, 200 tonnes of Liquor and 600 tonnes of cake.

This was revealed when the Member of Parliament for Takoradi, Kwabena Okyere Darko-Mensah and some journalists visited the company’s premises to assess the progress of work.

Isaac Opoku, Production Manager of WAMCO, mentioned that over the last 16 months significant success had been chalked by the company after the repair and maintenance of the liquor plant and the expeller.

He disclosed that currently the company was running two shifts with a workforce of 70 and hoped to increase the figure when WAMCO 2, a sister company, also becomes operational in 2019.

The Takoradi MP expressed gratitude to the government of Ghana and Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo for revitalizing WAMCO.

“In terms of the personnel capacity, the company has recalled about 70 of the old workers and would soon add about 25 of them to boost their production capacity,” he added.

Frank Bednar, Managing Director of WAMCO, also stated “we are back to life and becoming profitable. We are preparing to take the company to the next level as an economically buoyant business that makes good returns on investment.”
 
 
Source: Daily Guide
 
 

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