Takoradi: WAMCo, the joint venture private company, recently hosted a delegation from the Ghana Investment Promotion Council (GIPC) to discuss strategies for sustaining corporate growth. Mr. Frank Bednar, the Managing Director of WAMCo, emphasized the company's commitment to maintaining sound corporate practices and leveraging necessary structures for thriving operations.
According to Ghana News Agency, the delegation, led by GIPC's Chief Executive Officer Mr. Simon Madjie, visited WAMCo as part of GIPC's Regional outreach efforts. The visit aimed at enhancing collaboration with key stakeholders and promoting investment throughout the country. The discussions centered around updates on WAMCo's operations and potential avenues for support and collaboration, especially in light of past challenges.
WAMCo is a joint venture between the Ghana government, which holds a 40 percent stake, and Walter Schroeder of Germany, which owns 60 percent. The company specializes in processing cocoa beans into semi-finished products for export, equipped with advanced machinery and equipment. However, operations were halted between 2014 and 2017 due to alleged supply issues with the Ghana Cocoa Board (COCOBOD), which affected the company's processing capacity of 250 tons of cocoa per day, resulting in the temporary layoff of approximately 254 employees.
During the previous administration under Nana Akufo-Addo, a team conducted comprehensive audits of WAMCo, leading to the formation of a committee to oversee the company's reactivation. The initial supply of 150 tonnes of cocoa in September 2017 marked a significant step towards recovery. Between October 2018 and May 2019, the company received 5,540 tonnes of cocoa, enabling the reemployment of about 170 workers.
