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ECONOMY

Economic Activities

Agriculture is the major driving force of the municipality‚Äôs economy employing about 64% of the potential labour force. Among the major agricultural activities includes, Agro- based industries which offers employment to about  44.5% of the Agricultural sub sector, Oil palm extraction, Cassava processing, Soap making, Akpeteshie distilling and pockets of Cashew processing

Commerce

There is been a gradual reduction in the level of employment in the agriculture sector to the  informal Commercial sector, this is attributed largely to acquisition of capital for trading by some farmers.

Trading has seen a considerable improvement from 14 % in 2002 to 24% in 2006 representing a 10% increase within a period of three years. Major trading activities is in the area of trading in the building and construction, including items like Cement, Iron rods, Plywood, sale of agricultural products, household items, agricultural products and food and beverage vending.


The industrial sector recorded a substantial improvement in the municipality within the last three years .among the major sub sectors which lead to an overall performance of the sector includes the Metal Based Industries, Manufacturing and automobile servicing.

Financial Institutions

As part of effort to support the development and promotion of businesses there are three Commercial banks and two rural banks, these includes Barclays, Ghana Commercial Bank and Agricultural Development Bank. The Rural Banks includes Tano Agya and Ahafo Community Rural Banks. There are two other Micro Finance Institutions, these are the Sinapi Aba Trust and RIMDA who mobilise and provide Micro Finance to people.

These banks provide loans to farmers and also act as main channels for the operation of the CBRDP Micro Credit Scheme in the district.

The major problem facing the banking services is the poor roads, which render most parts of the district inaccessible to these facilities. There is also low level of loan repayment from customers which cripple the banks capacity to give more loans to their customers who are mostly farmers.

 


Date Created : 11/10/2017 2:51:04 AM