Ghana Exim Bank will construct 100 Greenhouses across the country under its ‘Youth in Greenhouse Enterprise Project’ (YUGEP) this year, to promote investment in greenhouse vegetable production, reduce huge and persistent importation of vegetables, as well as create employment within the economy.
This intervention is also an import-substitution strategy to increase the production and yield of vegetable output in Ghana.
These were disclosed by the Chief Executive Officer of the Bank, Mr. Lawrence Agyinsam, when he addressed a staff durbar of the Bank to outline its 2019 Strategic vision and programmes for the year.
He said for a start, due to vegetation and ecological considerations, six regions – namely the Greater Accra, Ashanti, Central, Western, Volta and Eastern Regions – are being considered, adding that all the necessary stakeholder consultations have been carried out and the necessary procurement process initiated to ensure that the project commences soon.
“It is estimated that about US$100milion is spent on vegetable importation into Ghana, and this initiative is to help reduce drastically this volume, save foreign exchange, and create rural employment in the country,” he noted.
Mr. Agyinsam disclosed that the Bank, in collaboration with the 1D1F Secretariat, will finance 100 Community-based Industries with an amount of GH¢70m to boost rural industrialisation and stem the urban-rural drift as well as create needed employment at the local level.
“Not only that: we will also establish five LEGACY Projects, including the construction of a Jute Factory in Kumasi in the Ashanti Region,” he further added.
He therefore charged the staff to brace themselves for an action-declared year, and to contribute their quotas toward achievement of the ‘Ghana Beyond Aid’ programme.
The Ghana Export-Import Bank (GEXIM) was established by the Act of Parliament 2016, Act 911, to support and develop directly or indirectly trade between Ghana and other countries, and also build Ghana’s capacity and competitiveness in the international marketplace.