Members of Parliament for the Cape Coast North and South Constituencies, Dr. Kwamena Minta Nyarku and George K. Ricketts-Hagan, respectively, have paid a working visit to the Ameen Sangari Company in Cape Coast.
The visit was to ascertain facts given to them last week on the floor of parliament by the minister of trade and industry, Alan Kyeremanteng, with regards to revamping of the Ameen Sangari Company.
According to the minister, on November 30, 2021, a loan to the tune of 6.1million Ghana Cedis was granted the company by one of the participating financial institutions under the 1D1F to revamp its operations.
Detailing the two MPs’ visit, the managing director of the Ameen Sangari Company which is one of the existing distressed companies that were put under the 1D1F initiative, Mr. Perry Mensah explained that the two MPs visited to follow up on the claims of the trade minister.
“I know people are doing a lot of propaganda and saying that some people were the ones that lobbied for the loan. The loan was given to us by Prudential Bank through the 1D1F facility; so, the fact that the MPs came here does not mean that they brought us money to do anything” he added.
He advised against people reading political meanings into the visit of the two MPs.
The Managing director told ATLFMNEWS efforts are being made to utilize the loan to complete the first phase of the revamping which is the retooling of the two oil mills.
“We are looking at retooling the two oil mills that is the palm kernel oil mill and then the crude palm oil mill; that is what this loan will be doing so that we can start operations. By the end of next month, we will complete the palm kernel section, and then because we are importing other equipment for the crude palm oil section, that will be completed towards the end of the year” he opined.
Mr. Mensah said he is hopeful that as the first phase is completed and workers in those sections begin working to refund the loan, the bank will further support with another loan facility for the phase two. This phase, he said, will tackle the soap, vegetable oil, and detergent sections.
Read also: Ameen Sangari receives ¢6.1 million loan to revamp operations – Trade Minister
Source: Aba Aikins Appah/ATLFMNEWS
