Chinese Company to invest N10b on cocoa production in Osun

The Chairman of the Shanghai Golden Monkey Group, Mr Qisan Zhao has disclosed that his company was ready to invest N10billion into the economy of Osun state through cocoa processing and production.

Zhao stated this at the weekend just as Governor Rauf Aregbesola of the state inaugurated a five-man board for SKYRUN Cocoa Processing Industry, Ede.

According to Zhao, the company would have the capacity to provide 1,000 jobs for the unemployed youths in the state in the next two years, explaining that the investment was part of efforts to take the company to an enviable position ever known in history.

Zhao said the decision to partner with Osun state government came on the heels of the need to properly harness the state's potentials in cocoa production and other agricultural produce.

He maintained that the company has seen a realistic prospect in the economic fortunes of the state, a knowledge which according to him will be profitably maximised through the partnership.

The chairman added that his company was ready to purchase in large quantity cocoa beans in its bid to expand its production line, saying no efforts would be spared to make Nigeria and Osun in particular the hub of Chinese investment in Nigeria.

Zhao said the decision to expand on the production line of the industry was to create mass employment opportunities for the unemployed citizens in the state, saying the company has seen the possibility in accomplishing its dreams for the state.

His words, "I represent 5,000 staffers of Golden Monkey Group, in 2015 the company had an agreement to partner with Osun, having decided to invest in Nigeria on cocoa production and as at today the ties have translated to positive results so far.

"Our partnership with Osun has made us to see that cocoa beans in Nigeria are the best in the world, and we are ready to key into this consciously to ensure possible development of the state and Nigeria as a whole. I have confidence to invest more in Osun.

“We are going to invest to ensure that Osun and Nigeria become the best producers of chocolate with great positive effects on the economy of Osun. We want to invest in Osun not only to boost her commercial trade and investment but to provide massive employment opportunity for her citizens.

"For these reasons, we have resolved to invest N10 billion into the Skyrun Cocoa Product Industry, Ede so as to boost the state's capacity on commerce, industry and business.”

Inaugurating the board for SKYRUN Cocoa Processing Industry, Aregbesola said the decision was part of his administration's resolve to turn Osun to the commercial hub of southwestern Nigeria and improve on cocoa production in the state and turn Osun to a hub of Chinese investment in Nigeria.

It would be recalled that the company was revived by the Aregbesola’s administration after 15-years of being moribund, a development which had in the last two years yielded positive results.

Aregbesola ,who described the inauguration as another milestone achievement to reposition the industry and make it one of the best cocoa production outfits in the world, said his government would spare no effort to ensure the success of the partnership.

He said the decision to invest N10billion into the company by the Chinese investors has marked the beginning of wealth creation and jobs generation in the state.

The Governor said: "With N10 billion coming to the state through the production of cocoa and other related products, Osun people is rest assured of better life in commerce, trade and industry as our state would soon be the hub of Chinese investment in Nigeria.

"I have been to the head quarters of Shanghai Golden Monkey Group in China and I have confidence that with the vast industrial and commercial investment of this company, we are on the right economic track in developing our state through a productive, efficient and profitable partnership.”

The newly inaugurated board members are Dr Adewale Adeeyo (Chairman), Mr Jianhu Liu, Mr Xie Shao, Mrs Feng Xu (from Shanghai Golden Monkey Group and High Hope skyrun International of Nanjing in China) and Elder George Adedeji.