Economy of the Municipality

Agriculture

Agric is the back-bone of the Municipal’s economy, employs two-thirds (67.1%) of the active work force. Thus, the sector is the main source of income and household food supply for the population. The major food crops grown are maize, cassava, plantain, yam and cocoyam. Some of the cash crops cultivated are cocoa, coffee, oil palm and citrus. Vegetables such as tomato, garden eggs, okro and pepper are also cultivated in large quantities, especially during the dry season. As in most parts of the country, agriculture in the Municipal is predominantly rain-fed; output often depends on favourable weather conditions.

Service Sector

The Service Sector is the second largest after agriculture and employs about 24.3 percent of the Municipal’s labour force. The sector covers a wide range of economic activities such as wholesale, retail, repair of motor vehicles, transport and storage, accommodation and food service activities, information and communication, administrative and support service activities, education and health.

Commerce

About 15% of the population in the Municipal is engaged in commercial activities as a major occupation. The predominant commercial activities are marketing of foodstuff, agricultural, inputs, second hand clothing and foot wear, trading in provisions, chemicals, beverages, toiletries, building materials and vehicle spare parts.

The major markets centres in the Municipal are located at Duayaw Nkwanta, Bomaa, Yamfo and Adrobaa. Major services existing in the Municipal are banking, postal, communication, hairdressing, tailoring and dressmaking, auto fitting among others.  

Banking and Finance

Banking and Micro-financing companies are fast springing up in the Municipal. The main ones currently operating in the Municipal are Ghana Commercial Bank, GN Bank, Derma Rural Bank,

Bomaa Rural Bank, Atweaban Rural Bank, Nsoatreman Rural Bank, APA Micro finance, Tano Workers  Co-operatives and Legacy Savings and Loans.

Periodic Markets

The major periodic centres were identified within the Municipal

Duayaw Nkwanta - Fridays

Yamfo - Sundays

Adrobaa - Tuesdays

Bomaa - Tuesdays

 Due to the proximity of the Municipal to Sunyani and Bechem, others prefer to go to these towns during the market days than the ones closer to them. People at Bomaa would prefer to go to Tepa than Duayaw Nkwanta due to cost and proximity.  This makes the market days in the Municipal not vibrant.

Commodity export

The  agrarian  nature  of  the  Municipal  restricts  it  to  the  export  of    just  primary  products  to other  marketing  centers  within  the  country.  The  Municipal  is  noted  for  the  export  of  large  quantities  of  tomatoes,  cassava,  vegetables,  plantain,  yam  and  palm  nut.  Quite  worrying  is  the  fact  that  the  abundant  resources  of  the  Municipal  are  only  exported  in  their  raw  state  without  any  form  of  value  addition.  It is therefore important for Municipal stakeholders to devise means of adding value to the local exports.