The West Africa Mills Company (WAMCO) has urged the government to rehabilitate its dormant processing facility in Sekondi to help maximise the benefits of the newly introduced 50 percent cocoa retention policy.
The policy, introduced by President John Mahama, allows a larger portion of Ghana’s cocoa beans to be retained locally for processing. The move has been widely welcomed by cocoa processing companies, who believe it will boost value addition and create jobs within the country.
Speaking during a working visit by the Western Regional Minister, Joseph Nelson, the Deputy Managing Director of WAMCO, Dr. Boakye Danquah, called on government and private investors to support the rehabilitation of the company’s second processing plant, known as WAMCO Two.
WAMCO, established in 1949, is the first cocoa processing company in Ghana. The Government of Ghana, through the Ghana Cocoa Board (COCOBOD), holds a 40 percent stake in the company.
The company operates two processing facilities. WAMCO One and WAMCO Two with a combined installed capacity of about 60,000 metric tons of cocoa annually. However, operations have significantly declined in recent years.
WAMCO Two, which accounts for half of the company’s total capacity with 30,000 metric tons, has been rendered non-operational due to technical challenges and the shortage of raw cocoa beans.
Currently, only WAMCO One remains operational, but even that facility is running at just 30 percent of its 30,000 metric ton capacity because of an inadequate supply of cocoa beans.
Managing Director of WAMCO, Frank Bednar, welcomed the government’s 50 percent cocoa retention policy, describing it as a major step toward strengthening Ghana’s cocoa processing industry.
He noted that increasing local value addition to cocoa remains the most effective way for the country to boost export revenue while creating employment opportunities.
Dr. Boakye Danquah further appealed for an investment of between five and seven million dollars to fully rehabilitate WAMCO Two.
According to him, revamping the facility would significantly enhance production capacity and contribute to the economic revival of the Sekondi-Takoradi metropolis.
MlHe added that the project could also secure more than 200 direct jobs once the plant becomes fully operational.
In response, Western Regional Minister Joseph Nelson assured the company of government’s commitment to supporting efforts aimed at restoring WAMCO’s full operational capacity.
He indicated that government recognises the strategic importance of cocoa processing to the national economy and will work with relevant stakeholders to ensure the sector remains competitive and sustainable.
