President John Dramani Mahama has initiated a thorough investigation into the Buipe Sheanut Factory’s financial affairs, aiming to uncover the circumstances surrounding its demise.
Established in 2012 as a joint venture between the Government of Ghana and Sysgate Brazil Limited, the factory was designed to add value to sheanut products and create employment opportunities in the Savannah region, particularly for women.
Mahama has accused the previous administration, led by Nana Addo, of mismanaging the $10 million agribusiness facility’s funds, depleting its capital, and selling off stockpiled sheanuts that could have generated revenue.
The factory’s closure resulted in significant job losses, exacerbating the economic challenges faced by the local community.
During a meeting with the Ghana Cocoa, Coffee, and Sheanut Farmers Association (COCOSHE), Mahama emphasized the need for accountability.
He said, “The factory was running well with capital and a stock of sheanut when the change of government happened. The NPP administration spent the capital, sold the raw materials, and spent that money too. After exhausting all resources, the factory had to shut down and lay off workers.”
Mahama stressed that those responsible for the factory’s mismanagement must face consequences, ensuring that justice is served. The audit is expected to provide a comprehensive understanding of the factory’s financial mismanagement and identify those culpable, paving the way for their prosecution.
