Former President and flag bearer of the National Democratic Congress (NDC), John Dramani Mahama, has issued a warning to the investor being given the Komenda Sugar Factory on lease to tread cautiously.
Mahama says it will be in the investor’s own interest not to engage in any “under the table transfer” but ensures a transparent process is adhered in handing over the national asset to him.
During an engagement with residents in Ho Friday, August 16, 2024, as part of his campaign tour to the Volta region, John Mahama advised the Indian-based investor not to indulge in any transaction that would be at his detriment over failure to go by the rules.
“I’ve read about the hurry to lease out the Komenda Sugar Factory to an investor. The thing about this government is they are not transparent in anything they do and I’ll warn the investor, I hope it’s gone through a transparent procurement process.
“And so, buyer, beware! Whoever that investor is, he should be very careful because if the process has not been transparent, we are not willing to abide by any transfer of that facility. We must open it up and get the best investor to come and partner with government to run that sugar factory.
“So whoever it is I’m just sending a note of caution to him, I haven’t seen any transparent process in trying to lease out that sugar factory and if we come and it was not transparent and it was some under the table transfer of a national asset, we will not be very cooperative in that regard and so that is a warning,” John Mahama cautioned.
Komenda Sugar Factory lease: Come and operate the plant and let’s see – Chief dares Indian investors
During a working visit to the site Thursday, August 01, 2024, sector Minister, Kobina Tahir (K.T.) Hammond, disclosed that government was going to lease the company to Indian-based firm, West Africa Agro Limited, for 15 to 20 years.
The Komenda Sugar Development Company Limited, also known as the Komenda Sugar Factory, was established in 1964 but halted operations for an extended period.
In 2016, the previous NDC government secured a $35 million loan from the Indian Export-Import Bank, followed by an additional $24 million investment to revamp the operations of the factory.
The Minister’s revelation followed the National Democratic Congress’ flag bearer’s promise to the Central Regional House of Chiefs of his intentions to revive the company if re-elected.
The government claimed the move aims to revive the company’s operations to meet domestic demand. The factory is currently undergoing a test run in preparation for full production.
Despite investments from the Indian Export-Import Bank and the previous NDC government, the factory has yet to achieve its objectives.
