Ghanaian multimillionaire is set to change the face of Ghana’s rice production industry with $33m

Photo credit: Ghana Web

Jospong Group of Companies, a conglomerate owned by Joseph Siaw Agyepong, one of Ghana’s most successful businessmen, has secured a $33 million facility from the Austrian government for the expansion of its rice production enterprise in the country.

Ghana’s President, Nana Addo Dankwa Akufo-Addo, praised Austria for the gesture during a Luncheon in honor of Austrian Chancellor, Karl Nehammer, in Accra last Wednesday, noting that Jospong Group has already established 16 integrated recycling and composting facilities through previous financial support from the Austrian government.

The multimillionaire announced last year that he was venturing into large-scale mechanized rice cultivation, following the Ghana government’s resolve to enhance rice output in the country.

The company has penned memorandums of understanding with key rice players in Thailand to construct a seed development and research center, rice mechanization centers, bio-organic fertilizer manufacturing centers, farm tool supply, and rice mills in Ghana, Billionaires Africa reported.

Jospong Group of companies, founded in 1995 by Joseph Siaw Agyepong as a printing press, has afterword expanded into one of Ghana’s biggest business firms with business interests in over 14 sectors spanning 60 subsidiaries with operations in Africa and Asia.

Last Edited by:Annie-Flora Mills Updated: May 3, 2023


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