USD$10 million investment to boost food production and security in Ghana
ModernGhana | 3 June 2014

USD$10 million investment to boost food production and security in Ghana

Magcor is investing $10 million USD to boost food production and security in Ghana after investing in Agricon Global last year. This week Magcor has announced further plans to grow more rice, maize and vegetables in Ghana.

Speaking to ModernGhana News, Mr. Michael Glynn, explained his commitment to support Ghana to achieve food security. He mentioned the progress his company has made in a joint venture farming project with Fast Fresh Farms near Prampram.

He said this joint venture is a pilot farming project of 33 hectares which currently specializes in growing vegetables, water melon, maize and rice. The project is led by Mr. Alexander Stoica, a successful and experienced Romanian farmer with track records of achievements in big farming projects here in Ghana and overseas. The plan is to roll out this model project throughout the country. Mr. Glynn commended Mr. Stoica for all the hard work, research and testing carried out in the last 18 months.

Ghana's agriculture sector which is the mainstay of the economy continues to rely on the two major seasons to plant and harvest crops to feed Ghanaians and that has increased the nation's dependence on importation of foodstuffs such as rice, tomatoes and other vegetables from neighboring countries.

Magcor and Fast Fresh farms will use drip irrigation system and other modern farming technology to ensure all year round availability of fruit, vegetables and rice on the local market at affordable prices to feed the people of Ghana.

In a latest development Fast Fresh and Magcor have won a long term contract to supply fruits and vegetable to all Shop Rite Supermarkets in Ghana and Nigeria. The Managing Director of Shop Rite visited Fast Fresh farms last week to seal the Fruit and vegetable supply deal.

Mr. Michael J. Glynn said that his company is motivated to reach the production target of 2 million tons of rice, maize, fruits and vegetables in 5 years.

He said this is a challenging target set by his company and Investment Consortium to help improve food security in Ghana and neighbouring countries.

In his final words in this interview The CEO of Magcor, Mr. Michael J Glynn said Magcor and its consortium are fully committed to eradicating poverty and improving the quality of life in Ghana and will continue to target investment to achieve this objective.
URL to Article:

Source: ModernGhana