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SUBSIDIARY NAME

CASSAVA STARCH AND FLOUR PROCESSING FACTORIES

COUNTRY

SHEEKA-PEE FARMS

SECTOR/ INDUSTRY

AGRICULTURE

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

July 21, 2022

ACQUISITION VALUATION

750 MILLION

TOTAL ASSET VALUATION

7.5 BILLION

AGRICULTURE

CASSAVA STARCH AND FLOUR PROCESSING FACTORIES by DENNIS DUMOLGA acquired on July 21, 2022.

The project is mainly for the processing of raw cassava to industrial starch and refined flour to international standard for export to mainly China and other part of the globe under off-take agreement with TIAST-China as the EPC and guaranteed off-taker. In 2021 alone China imported over $3B worth of cassava starch and still looking to expand the market. In line with our current government agenda to set up one factory in each district in Ghana (referred to as 1D1F projects) Sheeka-Pee Farms who is already into cassava flour production in small scale will like to expand it’s capacities and also extend our production capabilities to other districts/regions as well. As a result Sheeka-Pee Farms has been officially registered and approved by the Ghana Ministry of Trade and Tourism to setup cassava starch/flour processing factories in some selected districts/regions for the cultivation and production of cassava starch/flour for export. Sheeka-Pee has entered into agreement with TIAST-China, a manufacturing company specialized in cassava starch/flour factories to establish such factories in at least 5 districts/regions for the first phase and later expand to the other districts/region as well. The capacity for each factory site will be 150,000TPY for cassava starch/flour. Research have shown that cassava can be cultivated in any part of Ghana and therefore there is the assurance of more than enough raw cassava to feed the factories throughout the year. There is also the advantage of by-product for ethanol production, cassava plant leaves used as herb or to prepare sauce for most Africans. The cassava is also easy to cultivate and requires less inputs as compared to other crops. Other advantages and benefits of establishing theses factories are as follows:

  1. High international market demands due to the number of uses for the products (the cassava flour in now being used as substitute for wheat flour globally)
  2. Job creation which will boost the economic activities within the districts/rgions, directly and indirectly (for out growers and other related services)
  3. Training and technological transfer to the local folks
  4. Development of the districts/regions that will bring changes to the life of the people and also curb rural migration.
  5. Expected to engage over 2,000 people per district/region\Fepa Sechaba Milling is a start-up business planning on purchasing land/property and building a milling plant which will create 3000+ jobs. The company will install a Waste to Energy Plant to generate enough power to run the whole operation. A division will be created to manage the logistics for the company and a Tyre to Diesel Plant will be installed to produce all the diesel required to run the vehicles.

The mill will have a training center to train employees in various skills required for the different jobs in the company and will also have an in-house clinic to ensure employees health. Emphasis was placed on being environmentally friendly and a reticulation system will be built to recycle water utilized in the mill. For this reason the company decided to generate their power by using waste products such as plastics etc. As well as producing their own diesel by recycle tyre through a pyrolysis plant.

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