Today, the Asante Akim South District has plenty of opportunity for private investment and joint ventureship with the public sector, predicated both on the district’s natural and human resources, as well as the solid infrastructure, which the District Assembly has put in place.
In the agricultural sector, studies have shown that cultivation of non-traditional crops such as pineapple, ginger, black pepper and mushrooms are suitable throughout the district.The District Assembly, therefore, encourages large-scale production of non-traditional crops. The cultivation of vegetables, such as tomatoes, pepper, garden eggs is another area of investment with rich potential.
Conditions also favour large scale cultivation of tree crops like oil palm, cocoa, coffee, cola and the establishment of woodlots. Available records show that the district has comparative advantage over all the other districts in the Ashanti Region, as far as tree crop cultivation and yields are concerned.
The district is noted for the production of food crops such as plantain, maize, cassava, cocoyam and vegetables. Cash crops like cocoa and oil palm are also extensively cultivated.Other crops of importance are citrus fruits and cola which grow well in most part of the district. Although farming activities are hampered by problems such as lack of credit facilities and inadequate access to extension services, private investors interested in agriculture can enjoy several advantages.
The district has favourable weather conditions for agriculture all year round. There is no record of extreme weather conditions, with average monthly temperature at 260 C and mean annual rainfall ranging between 1500mm and 1700mm. Almost all the various soil groups in the country can be found in the district, meaning it can support a wide range of crops.
There is great potential for the mining industry too, with reported deposits of gold and stone in various parts of the district.High value gold ore has been identified at Tokwai, Banka, Ofoase, Morso, Krofa and Asankare. So far, no meaningful mining activity is being undertaken in the district. However, in the Bana-Tokwai area, deposits have passed the exploratory stage and are now on concession. Obogu, Banso and Ofoase areas also have great potential for quarrying. There is a large stretch of stone deposits from Obogu to Ofoase, a distance of some 25 kilometres.Bompata and its outlying areas have also been identified to be containing immense clay deposits.
The large expanse of arable land lying within the rainforest belt of Ghana has suitable soils for food and cash crops like maize, cassava, plantain, cocoa, coffee, oil palm and vegetables.
The industrial sector is the least developed sector of the local economy, employing only six percent of the labour force.
However, there is plenty of unexploited potential. There is high quality wood for the wood processing industry. Indeed, over 80% of the district is covered with forest, in addition to four forest reserves covering a total area of 109.60 square kilometres. These reserves have valnuable timber species and they are felled by concessionaries under strict forestry policies. Twenty-two per cent of those employed in the industrial sector are in the wood-based industry.
Another 16% are involved in agro-based industry and agricultural raw materials are available for agro-based industry. The agricultural produce is in large quantities such that with the poor marketing facilities, most of them get rotten. Investment in these areas to turn the primary products into secondary products would boost the agricultural sector.
Also, there are large-scale clay deposits for the ceramic industry at Bompata. Feasibility studies have confirmed the high quality of the clay deposits. Some five percent of the local industrial labour force is employed in the clay-based industry. Another 11% are engaged in metal-based industries.
Types of Industries currently available are:
- Food processing (rice and corn milling),Cassava processing mostly into gari with a big potential for cassava starch and pallets
- Palm kernel and oil palm processing
- Carpentry /Wood Processing (i.e. sawn lumber, manufacturing of furniture, doors and windows, etc.) No manufacturing facility of industrial significance is however available in the district.