Ghana’s Produce Buying Company to open $10m shea nut factory

The Produce Buying Company, a 100% owned subsidiary of the Ghana Cocoa Board and the single largest buyer of cocoa for the domestic market is set to open a $10 million shea nut processing factory in September, The Reuters have reported citing the company’s Managing Director.

According to the report, the factory aims to begin at 25,000 tonnes and ramp up over four years to a capacity of processing 100,000 tonnes of nuts into shea butter, which can be used in the chocolate industry as an alternative to cocoa butter.

Mr. Kojo Atta-Krah was quoted as saying, “Work on the factory should end by July for test trials to be run and full processing to start at the end of September.”

The shea industry in Ghana is receiving increased attention in recent times. Three processing factories are to be built under the Savannah Accelerated Development Authority (SADA) programme.

In March 2009, the GNA reported that women in Sagnarigu and Walewale have benefited from a Japanese government grant of about $86,000 to help them in the processing of shea butter in the Northern Region, to help raise their living standards.

Two international organizations, SAP and PlaNet Finance said in a press statement copied to ghanabusinessnews.com in June 2009 that they were looking at investing in the shea nut industry in Ghana.

Ghana has the potential to earn over $100 million yearly from the shea industry which is known as the ‘cocoa of the north.’

By Emmanuel K. Dogbevi