1 DISTRICT 1 FACTORY: GOV’T CONSIDERING LENDING VESTOR OIL $5M

President Akufo-Addo says government is considering lending 5 million dollars to Vester Oil Mills Company at Deduako in the Ejisu Municipality for it to expand its operation and create more jobs. Speaking in an interaction with management during a visit to the factory as part of his tour of the Ashanti region, President Akufo-Addo indicated that gov’t was studying proposals from the company and would support Vester Oil increase its workforce from the present one hundred to 200.

This was after the Founder and Chief Executive Officer of Vester Oil Mills Company, Kwasi Nyamekye, told the president his company could help reduce the number of unemployed youth if given the necessary assistance.

According to Kwasi Nyamekye, the company, which currently operates two plants at two sites – Deduako and Aputuogya – produces 140 tonnes of cooking oil a day, whilst its batch refinery plant produces 20 tonnes daily. Kwasi Nyamekye said the company is housed on 23.7 hectares of land, which means it could increase its installed capacity to expand production.

President Akufo-Addo praised the management for their ingenuity and helping to roll out the One-District-One-Factory programme. He called on other private individuals and companies to take advantage of the 1D1F policy to expand and increase production.