Kasapreko juice and soft drinks factory commissioned

President Akufo-Addo has commissioned yet another company under his government’s flagship Government’s 1-District-1-Factory initiative.

The commissioning of the Kasapreko water, juice and soft drinks factory located at Kwadaso in the Ashanti Region, according to the President, is a concrete manifestation that the new paradigm of economic development, which his administration is vigorously pursuing, of insisting on value-addition industrial activities within a conducive and business-friendly environment, can make headway.

“This afternoon’s ceremony is in fulfilment of the promise by Government, in partnership with the private sector, to set up at least one medium to large scale enterprise in every district of Ghana,” the President said at the commissioning.

The focus of the 1-District-1-Factory initiative, according to the President, is on the promotion of commercially viable business ventures, through the establishment of an institutional framework that will attract private sector investments in rural economic activities.

“In response to this, Kasapreko Co. Ltd took the initiative, with the support of Government, to build this new factory at Tanoso, in the Kwadaso District of the Ashanti Region,” he said.

He continued, “The factory will produce water, juices, and soft drinks. Kasapreko, in addition to the twenty-five million United States dollars ($25 million) borrowed from Stanbic Bank for this project, also received waiver of duties on machinery and raw materials, as well as a 5-year tax holiday, which, together, will be worth twenty-eight million United States dollars ($28 million) from Government.”

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