The Association of Cashew Processors Ghana (ACPG) has revealed that two local cashew processing factories are on the brink of shutting down within the next two months, potentially putting hundreds of jobs at risk.
According to the Association, the looming closures are due to inadequate financial investment, which is threatening the sustainability of operations in the cashew processing sector.
Speaking at the Association’s sixth annual general meeting, immediate past, President Ed-Malvin Nii Ayi Bonte appealed to the government for urgent intervention in the form of low-interest loans to support the struggling industry.
“Once we stop processing midway, it means all the workers will have to be laid off and then brought back when the season resumes next year. This requires retraining, which costs money,” he said. “Those shutting down for two to three months risk losing almost all their workers.”
Bonte emphasized that approximately 2,000 workers are currently employed in the sector, and the closure of these factories, most of which are indigenous, Ghanaian-owned businesses could result in the loss of around 500 jobs.
He stressed that government support is critical to maintaining employment and ensuring the continued growth of the local cashew processing industry.
