Management of the Agricultural Development Bank (ADB) has expressed satisfaction about the progress of Ghanaian manufacturing fruits juice company, Ekumfi Fruits and Juices Factory.

The Bank says it feels more obligated contributing to the growth and sustenance of a company under the One District One factory that is showing a remarkable progress.

Managing Director, Dr. John Kofi Mensah, indicated that the bank was committed to supporting 1D1F projects, especially, those agro-based related.

He stated that Ekumfi Fruits and Juices Factory would gradually grow into a major international brand if it receives the needed support.

He averred that many of the fruit juices that are on the Ghanaian market rely on concentrates that are generated from outside the country and this makes their support very difficult.

“Most of these companies that are into fruit juice production import concentrates from outside the country. So, we deem it fit that we should finance out-grower and in-grower schemes to support these factories that do not rely on concentrates,” he stated.

He maintained that one key importance of the venture that is being pushed by the bank and the agribusiness division is the creation of jobs in these locations and the rise in the standard of living of the people.

Dr. Mensah disclosed, an enterprise such as the Ekumfi Fruits and Juices Factory if supported would yield maximum returns by saving the country from spending hard cash on importation of concentrates.

“Ekumfi is doing a very good job and as a country, there is nothing so good than supporting such ventures,” he said.

Board Chairman of the Agricultural Development Bank, Daasebre Akuamoah Agyapong II, indicated the visit by the new Board of Directors of the Bank was part of their commitment to get first-hand information on how loans disbursed to companies were being used for their intended purposes and to further strengthen their relationship with their cherished customers.

He stated that Farm Direct Limited is of unique interest to bank due to the out grower scheme project funded by the Bank to support the Ekumfi Juice Factory.

“Through Farm Direct, the Ekumfi Juice Factory has had a constant supply of raw materials to produce our healthy Eku Fruit Juice and created thousands of jobs within its catchment area,” he said.

He further indicated that the Agricultural Development Bank (ADB) has so far disbursed a total of GH₵101,602,503.24 to 17 companies under the One District One Factory Initiative (IDIF) in the areas of Agro-processing, Aquaculture, Poultry, Construction and Manufacturing.

He added, “We have identified the Outgrower Scheme as a reliable way of supporting our industries with raw materials under the government’s One District One Factory (IDIF) Initiative and also create jobs at our local communities to help curb the rural urban migration menace.”

Operations Manager of the Ekumfi Fruits and Juices Factory, Frederick Kobbyna Acquah noted that
ADB was helping them to process about 200,000 fruits a day and he was optimistic the approach was going to help them expand their supplies.

He noted that the Bank funds Farm Direct to grow and put in place other growing mechanism for Ekumfi and they were looking forward to having a long-standing relationship with ADB and other partners.

“Our vision is big and we would work hard to ensure that the commitment you have put in place yields dividends,” he intimated.

The Bank handed two bulldozers, ten tractors, two delivery trucks and one trailer to the company to support its activities.