1D1F: 125 of 296 factories operational – Ofori-Atta
Out of 296 1D1F projects undertaken since 2017, 125 are currently operational across the country, Finance Minister Ken Ofori-Atta has told parliament in his mid-year review on Monday, 25 July 2022.
“This, is by far, the biggest industrialisation programme our country has seen since colonial days”, he noted, adding: “Mr. Speaker, the President’s vision to see Ghana producing what we use for ourselves and our neighbours as well is unfolding right before our very eyes”.
“Seen against the 278 projects and 106 operational 1D1Fs reported in November, 2021, our industrialisation agenda is progressing steadily and we will urge more investors to see the current global supply chain challenges rather as an opportunity to invest in Ghana – the commercial centre of the Africa Continental Free Trade Area”.
He said the government, “for our part, will continue to support 1D1F firms with technical assistance, tax incentives and access to credit, including interest payment subsidy support to de-risk lending to create jobs and promote export orientation for transformation”.
The One District One Factory (1D1F) initiative is the vision of the President to change the nature of Ghana’s economy from one which is dependent on import and export of raw materials to one which is focused on manufacturing, adding value and exporting of processed goods.
These raw materials are largely found in the districts and would have otherwise gone waste, according to the website of the initiative.
The government “creates the necessary conducive environment for the businesses to access funding from financial institutions and other support services from government agencies to establish factories”.
Through the initiative, Ghanaian entrepreneurs will own the companies, operate them and bear all the risks and rewards of the projects.
On 25 August 2017, the President launched the 1D1F programme at Ekumfi in the Central Region.
Just after the launch, the President cut sod for the commencement of the first factory, a pineapple/fruit processing factory at Nanabeng in the Central Region.
Source: Classfmonline.com
