In a significant development, a state-of-the-art $20 million shoe factory aimed at producing shoes for both the local Ghanaian and international markets has been officially inaugurated on Tuesday.
The project, initiated and financed by World Shoe Inc, an American business organization, is situated on the premises of Akosombo Industrial Company Limited (AICL), formerly known as Akosombo Textiles Limited (ATL), located in the Asuogyaman District within the Eastern Region.
This cutting-edge factory boasts the capacity to manufacture five million EVA plastic shoes annually and is expected to provide employment opportunities for approximately 1,050 individuals.
The inauguration of this factory was a milestone event, attended by the Paramount Chief of the Akwamu Traditional Area, Odeneho Kwafo Akoto III.
He expressed the belief that the establishment of this factory would significantly contribute to job creation, ultimately leading to improved socio-economic conditions within the traditional area and an enhanced standard of living for its people.
Odeneho Kwafo Akoto III underscored how this factory aligns with his vision to address illiteracy and poverty in the Akwamu Traditional Area. He emphasized that economic empowerment would play a vital role in accelerating the development of the region.
The President and Chief Executive Officer (CEO) of World Shoe Ghana Factory, Dr. Emmanuel Manny Ohonme, revealed that a substantial investment of about $20 million had been made in the factory. The factory is anticipated to produce five million plastic shoes annually, catering to both the domestic and international markets, including the United States and Europe.
Dr. Ohonme highlighted the health and anti-microbial properties of the EVA plastic used in the shoes, promoting the well-being of users. Additionally, he emphasized that these shoes were crafted from biodegradable materials designed to degrade within fifteen years after use, contributing to environmental sustainability.
Dr. Benjamin Kojo Taylor, President of World Shoe Limited, emphasized the potential of Ghana to achieve its vision of industrialization through manufacturing.
He pointed out the significant opportunities Ghana holds with its educated workforce, youthful population, and cost-effective labor. Dr. Taylor highlighted the lucrative global shoe industry, emphasizing that Ghana could emulate the successes of countries like China, India, and Vietnam by leveraging this sector to boost the economy and create jobs for the youth.
In conclusion, he appealed to the government to utilize its purchasing power to support the thriving success of the company.
Dr. Philip Osafo-Kwaako, Director of AICL, noted the company’s diversification from textiles into other manufacturing products as part of its strategy to ensure profitability and sustainability.