The Ranking Member on the Trade and Industry Committee of Parliament and Member of Parliament for Bole-Bamboi, Yusif Sulemana, has accused the Trade and Industry Minister of attempting to sell the Komenda Sugar Factory to an Indian-owned firm.
Referencing the drill ship saga, Yusif Sulemana said, “We know the history of the Minister of Trade. We were in this country when he sold our drill ship, so I will not be surprised if he is on his way to sell the Komenda Sugar Factory.”
He added that Parliament has not been informed of this decision and demanded that the Trade Minister, K.T. Hammond, be summoned to answer questions.
During a recent tour, the Minister of Trade and Industry, Kobina Tahiru Hammond, revealed that the government is ready to lease the Komenda Sugar Factory to West Africa Agro Limited for up to 20 years, with the possibility of renewal.
The government asserts that this initiative is intended to revive the factory’s operations and meet domestic demand.
Established in 1964, the Komenda Sugar Development Company Limited has faced several operational challenges, including a complete halt in production.
Despite investments from the Indian Export-Import Bank and the previous NDC government, the factory has not yet met its objectives.
In a media statement, the Ranking Member on the Trade and Industry Committee cautioned foreign companies against entering into contractual agreements with the Trade Minister without adhering to proper procedures.
“Any foreign company that is going into any contractual agreement with the minister without due process, we can assure them that the NDC administration will abrogate the contract,“ he said.
The $35 million factory, inaugurated by former President John Mahama in May 2016, was funded by the Indian EXIM Bank. Its goal was to produce sugar domestically, reduce imports, and create approximately 7,300 direct and indirect jobs along the value chain.
However, the factory’s operations halted due to a range of challenges following its commissioning.
