President Nana Addo Dankwa Akufo-Addo has commissioned the third Phase of the KEDA Ceramics factory, a company operating under Government’s “One District, One Factory” initiative.
The factory, located at Lower Inchaban in the Shama District of the Western Region, has generated some 2,000 direct and 5,000 indirect employment opportunities, since the completion of its first and second phases.
Construction of the third phase of the factory started in September 2019, and was completed in June 2021. The President cut the sod for the third phase of expansion works of the factory in July, 2019.
KEDA Ceramics Company Ltd, has invested some $150 million in all three phases, resulting in an increased production capacity of 150,000 square metres of tiles per day. Currently, the company exports 60 percent of tiles produced to the West African market.
At a ceremony at Shama, as part of his two-day working tour of the Western Region, President Akufo-Addo was very encouraged about the fast progress and expansion of the company.
He noted that the expertise of KEDA Ceramics and the reputation for its best qualities has positioned the company to be competitive not only in Ghana but the whole of West Africa.
The President emphasized that in 2019, despite the Covid-19 pandemic, KEDA was able to export 7,156,800-meter square of ceramics amounting to US$22.9 Million, which increased to 10,540,800-meter square in 2020 and raked in US$34.8 Million.
He said the projection for this year’s export is expected to hit 12,355,200 metric square with US$39.5 Million as foreign exchange generation.
With the company’s operations significantly reducing the import of tiles to into Ghana, President Akufo-Addo lauded the contribution ceramic manufacturing was making in the industrialization agenda of the country.
He was particularly happy about the decision of the company to source their raw materials locally, noting, “Many of those things we can do here in Ghana, we intend to begin the process of doing them here in Ghana. That is the way we can develop our economy and begin to address the living standards of our people.”
The President commended the Promoters of the company for having confidence in the Government and the Ghanaian economy and assured them of Government’s continuous support to expand operations and take advantage of the African Continental Free Trade Agreement.
He also praised the traditional rulers and land owners for their unflinching support for the project, and advised the workers to put in their maximum best to ensure the success of the strategic project.
The total investment of the projects is estimated at US$150 million and the Government has provided exemption in the area of equipment, machinery, construction materials, etc. to enhance the operations of the company.
A deputy Minister of Trade and Industry, Michael Okyere Baafi, noted that the success story of KEDA Ceramics was a testament that with a friendly business environment and the appropriate incentives, such as pertains under the One District- One Factory programme, home grown companies can compete on the global market.
This is because the company is currently exporting its products to most West African countries and is seeking to enter the wide continental market.
The deputy minister was particularly happy about the usage of locally available raw material, clay, as the major input in the manufacture of the products.
He said the siting of the factory in the Western Region was an example of local enterprises harnessing the available resources to enhance the economic activities of the people within its catchment area.
Source: Ashantibiz
