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Ghana gets private investment to revive Akosombo Textiles

06
Jul '20
Pic: Akosombo Textiles
Pic: Akosombo Textiles
The Ghanian government has secured private sector investment to revive Akosombo Textiles Limited (ATL), according to minister of trade and industry Alan Kyerematen, who recently allayed fears about ATL operations getting completely grounded following reports in certain quarters. President Nana Addo Dankwa Akufo-Addo paid a visit to the company recently.

When the current government took office, this company was on its knees, with the factory producing at less than 30 per cent of its capacity, Kyerematen was quoted as saying during the presidential visit by a Ghanaian newspaper.

At full capacity, ATL can employ 3,500 workers, he said.

The government had decided to introduce a number of policy measures, including introduction of tax stamps and the designation of a single import corridor, to deal with the challenges of the textile industry, he said.

Kyerematen indicated that President Akufo-Addo had directed officials to encourage companies that want to shift their factories outside China to relocate to Ghana.

Fibre2Fashion News Desk (DS)


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