Who owns the rubber industry in Ghana?

Dominating Ghana’s rubber industry is Ghana Rubber Estates Limited (GREL). The company is a rubber production firm that controls rubber plantations in the country, holding 98 percent of the domestic rubber market. GREL’s processing plant produces around 15 metric tonnes dry rubber content of rubber per annum.

When was rubber first introduced to Ghana?

Rubber was first introduced to Ghana in 1898 as an ornamental tree in a botanical garden in Aburi, near Accra. In 1930, some trial plantations were undertaken in the Western region and in the 1950s the first industrial plantation was set up there via a joint venture with a Danish company.

Who owns Ghana rubber plantation?

The plantation was nationalized into the Agricultural Development Corporation (ADC) in 1960 and later, State Farms Corporation in 1962. The Ghana Government, in 1967, established a joint venture company with Firestone Tyre Company to take over the rubber plantation. This joint venture company was called Ghana Rubber Estates Limited (GREL).

What happened to Ghana Rubber Estates Limited (grel)?

This joint venture company was called Ghana Rubber Estates Limited (GREL). By then the plantation had expanded to 39,390 hectares. Firestone opted out of the venture in 1981 and the greater part of the plantation was abandoned. GREL was rehabilitated between 1988 and 1996 during which 4,000 hectares of rubber was planted.

Who owns grel rubber plantation in Ghana?

The Ghana Government, in 1967, established a joint venture company with Firestone Tyre Company of USA to take over the rubber plantation. This joint venture company was Ghana Rubber Estates Limited (GREL). GREL became wholly state-owned in 1980 when Firestone sold its shares in GREL to the Ghana Government.

Who is Ghana Rubber Estates Limited?

Ghana Rubber Estates Limited is the rubber production firm that controls rubber plantations in the country, currently holding 98 percent of the domestic rubber market. GREL positively impacts the Ghanaian economy through exports as well as taxes both directly and indirectly, employing 544 people, with an additional 3,149 employed by contractors.