The Factory, under the One-District One-Factory initiative, has the capacity to produce between 1.5 and 2.8 tonnes of rice per hour.
It has an electricity generation plant, mechanised borehole, as well as a fully furnished office, conference room, laboratory and kitchen.
It would operate under the Common User Facility (CUF), which is an agro industry factory established by the Rural Enterprises programmes by the Ministry of Food and Agriculture.
President Akufo-Addo said the Factory would employ about 118 people, including management, professionals and factory floor workers.
He said more than 600 farmers from the area would be directly engaged to supply paddy rice for processing.
The President said with support and funding from the African Development Bank, the Rural Enterprises had been able to establish five CUFs throughout the country.
He mentioned Savelugu, Nkran Nkwanta, Akontombra, Dompim and Nsuta as beneficiaries of the rice processing factories.
The Akontombra Rice Factory would be managed by top-notch professionals and technicians who would be recruited competitively by the Ministry of Trade and Industry, President Akufo-Addo said.
Nana Kofi Ebui, the Chief of Akontombra and Benkumhene for Waiwso Traditional Area, commended the President for the One-District One-Factory initiative to reduce unemployment.
The President earlier announced the retention of Mr Yawson Amoah as the District Chief Executive for Akontombra.
That was the first in the series of DCE appointments, the President said.
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