Workers at Akosombo Industrial Company Limited (AICL), formerly known as Akosombo Textiles Limited (ATL), have pleaded with the government to fast-track negotiations with a Hong Kong-based investor seeking to revive the struggling textile manufacturer.

Union leaders humbly appealed to the government to consider that the approval of a proposed memorandum of understanding (MoU) could help stabilise the company’s finances, safeguard jobs, and provide relief to hundreds of current and retired employees owed months of pay and benefits.

AICL, established in 1967 as ATL, was once a cornerstone of Ghana’s textile industry and at its peak employed more than 3,500 workers. It now operates with just over 400 staff, according to union officials.

Mr Stephen Nkansah, chairman of the company’s union, said the factory is currently unable to meet export commitments and is struggling to supply the domestic market. “The company is barely able to meet local demand, and our export markets have significantly declined,” he said.

At its height, the company produced more than 100 tonnes of textiles, including its flagship ATL Wax and Fancy Java lines, supplying markets in Nigeria, Benin, Togo, Niger, Canada and South Africa.

Joseph Kudjoe Botwe, the union’s executive secretary, said workers are owed about eight months’ salary, while bonuses have not been paid for nearly four years.

Contributions to workers’ tier-two pension schemes have also been in arrears for four years, he added, and gratuities due to employees who retired in 2024 remain unpaid.

The union attributes the company’s decline to years of weak management and underinvestment, which it says have eroded production capacity and competitiveness.

The workers are calling on the Ministry of Trade, Agribusiness and Industry to expedite engagement with the prospective investor and conclude an MoU to pave the way for recapitalisation and operational restructuring.

They also appealed to the local political authorities, including the Member of Parliament (MP) of Asuogyaman, who is also the Deputy Minister of Finance, Mr Ampem Nyarko, and the District Chief Executive (DCE) of Asuogyaman, Mr Godwin Bobobee, to support efforts to secure government approval for the investment.

AICL is currently the only textile manufacturer in Ghana printing RealWax fabric, a premium product that has long been associated with the company’s brand.

Union leaders say reviving the factory could align with the government’s proposed 24-hour economy programme by restoring jobs and stimulating economic activity in the Eastern Region.

The 24-hour economy programme, envisioned by President John Dramani Mahama, seeks to extend productive activity beyond traditional working hours by encouraging round-the-clock operations in key sectors such as manufacturing, agro-processing and services.

The policy is anchored on promoting value addition, reducing reliance on raw commodity exports, and boosting domestic industrial capacity to create jobs and increase export earnings.

The union leaders say reviving distressed but strategic factories such as AICL would align with the programme’s objectives by restoring local production, deepening industrial linkages and stimulating economic activity in surrounding communities.