The McDan Foundation has broken the ground for the construction of shea nut processing factory and warehouse at Nasia in the Northern Region at the cost of GHC550,000.
The factory, to be completed within three months, is expected to offer over 100 direct and indirect employment for the youth, Mr Frank Oduro, the Head of the Foundation, said at the ground breaking event.
A statement to the Ghana News Agency in Accra on Saturday said the factory would have state-of-the-art equipment for the processing with a Kia Truck for its operations.
The facility formed part of the package for Mr Alhassan Hamza Akoligo, a young entrepreneur, who won the maiden McDan Entrepreneurship Challenge in February, 2020.
The statement said the gesture was part of the Foundation’s corporate social responsibility to empower young entrepreneurs to scale up their business modules.
Mr Akoligo has stablished Alkoh Shea Butter at Gambaga in the North East Region, it said.
The statement said Dr Daniel Mckorley, the Founder and Executive Chairman of McDan Group of Companies, has pledged his determination to support the next generation of Ghanaian entrepreneurs to grow and expand their businesses.
It urged young entrepreneurs to be determined, resilient and disciplined to accomplish their vision of becoming multi-million-dollar entrepreneurs.
It said bad attitudes and indiscipline could easily collapse budding businesses since research had shown that out of 100 small-scale enterprises only 10 succeeded in becoming multi-million-dollar ones.
The statement entreated young entrepreneurs to be innovative and creative in their dealings to make headway in life and positively impact the national economy.