Osei Kyei-Mensah-Bonsu commends Gyata Cement for bold initiative

Economics Committee Tour
Economics Committee Tour

Majority Leader, Osei Kyei-Mensah-Bonsu has commended the management of Gyata Cement Limited for the bold initiative to enter the cement manufacturing industry which has been a monopoly in the country.

“Thus far we are most impressed with what we have seen, and the efforts being made to expand the cement factory to make it the biggest in the sub-region”

Mr Kyei-Mensah-Bonsu said this after Parliament’s Joint Committee on Trade and Industry, and Works and Housing toured the Dzata Cement Limited, a wholly owned Ghanaian cement manufacturing company at Tema.

The visit by the committee members was to enable them familiarise themselves with the operations of the company.

The Majority Leader also lauded the company for employing more than 400 direct workers and about 3,000 indirect employees, which included agents and distributors across the country.

He stressed the need for Parliament to assist the company overcome the teething problems they were facing by helping them with some exemptions they may need to import equipment.

He said the government should also extend some facilities under the One District, One Factory (1D1F) to the company.

“I know that some existing companies have applied to the 1D1F by way of trying to expand their outfit. …what can be done by Parliament to assist the company to expand to employ Ghanaians and to also offer the economy greater resilient” he added.

Minority Leader, Haruna Iddrisu in his comment described the company as wealthy Ghanaian business initiative that exemplify Ghanaian enterprise and success of potential indigenous Ghanaian businesses.

He said, “what it does is to wake up the political elites of Ghana to grow above petty partisanship and grow indeed truly Ghanaian indigenous business regardless of his political affiliation.”

He said the opportunities of Ghana must be to the benefit of everybody, saying if there was any Ghanaian businessperson who could show promise and working to succeed, “we should together support that person.”

Mr Ibrahim Mahama, Executive Director of Dzata Cement Limited, briefing the Parliamentary delegation on the operations of the company disclosed that the first phase of the factory which was complete cost US$90 million.

He said the second phase which involved the building of additional plant would cost US$32 million whilst the third phase which entailed the construction of 10 silos with a capacity of 4,000 tons each would also cost US$48 million.

He revealed that the company had plans to source raw materials such as limestone locally for production from areas including Nawule and Afram Plains.

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