RMG Ghana Ltd will invest $10 million in the country’s cotton industry under a five-year project to raise cultivation of the crop from the current 4,000 metric tonnes to 50,000 metric tonnes. The investment will cover operational and marketing costs, help expansion of farm sizes, ensure timely availability of production inputs and raise income of farmers.
The initiative is part of a strategic partnership agreement between RMG Ghana, an agro input firm, and Wienco Cotton—the first a sister company and the second a subsidiary of Wienco Ghana Limited—to make Ghana one of the major cotton producers in the continent.
The white gold of Ghana must return to be the game-changer in the country’s economy, media reports in Ghana quoted group chief executive officer of RMG Ghana Daniel Ruegg as saying.
The Arailius Group of the United Kingdom also intends to invest in cotton and textile production, while the China Agricultural Machinery and Engineering Corporation (CAMEC) will establish mechanisation centres in cotton producing districts to promote smallholder and commercial cotton production, according to the government.