A Deputy Minister for Trade and Industry, Kweku Ricketts Hagan has hinted of moves by government to outsource the Ayensu Starch factory to the private sector.
[contextly_sidebar id=”YI9tyZQVjmQcekhMvSgMKbIZxcjYyKdx”]He said, currently government has engaged the services of a transaction advisor to ensure a successful transition.
The factory is currently faced with production and technical challenges.
The situation compelled the workers of the factory to lay down their tools about two months ago, demanding better wages and working conditions.
Speaking to Citi News after touring the factory in the Central Region, Kweku Ricketts Hagan explained that the arrangement falls in line with government’s Public Private Partnership policy of engaging the private sector in revamping local industries saying “the idea is that companies or factories should be run by the private sector and not by government.”
He added that the “government could have shares in it so that government will give the support for the company to succeed but in the end. What we intend to do is return this factory in the hands of the private sector preferable Ghanaian private sector.”
“We employed the services of a transaction advisor to do some feasibility studies as to how to make this business here sustainable and as to the structure in terms of capital structure, in terms of ownership; how we could look at the future of this company,” the deputy minister added.
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By: Godwin Allotey Akweiteh/citifmonline.com/Ghana