Finatrade and GADCO partner on new rice farming project in Ghana

ACCRA, Ghana - May 19, 2014 - PRLog -- The Finatrade Group of Companies has announced its ongoing commitment to developing domestic rice production in Ghana with the launch of an ultra-modern rice processing unit at Sogakope in the Volta region of the country. The new rice farms cover 2000 acres of land and have the capacity to deliver a minimum of 10,000 tonnes of rice to the local market.

The new unit was opened in co-ordination with GADCO, the sustainable food and farming specialists. The two companies plan to expand the farms under cultivation to over 5,000 acres with 50,000 farmers over the next few years. The project is part of the ongoing effort by private companies in Ghana to help grow a sustainable agricultural base for the country.

Finatrade’s Executive Chairman, Nabil Moukarzel, said that further development and investment in Ghana’s rice farming sector would be encouraged if the government introduced a tariff offset scheme for companies and their subsidiaries involved in the development of agriculture in Ghana.

“The future success of projects like this depends heavily on government partnership with the private sector in areas like training, price support, agronomy and technology,” Mr Moukarzel commented. “Further support could take the shape of an investment fund to provide financing for inputs, equipment, mechanisation and the development of improved genetic stock for planting.”

Other innovations, like irrigation schemes, small farmer training, technical assistance funding and take off agreements would also benefit from increased government involvement in the rice farming project.

The Finatrade Group of Companies has been heavily involved in the development of agriculture and food transport and storage in Ghana for 14 years. Group companies like Sucatrade Company Limited have been pioneers of bulk cold storage and consumables distribution in Ghana, including consumables like frozen chicken cartons and dry rice by the sack.