Finance Minister Ken

Each district to get Ghc2m for 1 district, 1 factory

The government will allocate at least GhC2 million to each district, municipal or metropolitan assembly for the implementation of the one district, one factory programme, the Finance Minister, Ken Ofori-Atta, has said.

During the presentation of the 2018 budget statement, the Minister said that 191 companies have been selected for implementation.The Ministry of Trade and Industry completed technical, financial and commercial viability analysis of 462 proposals, out of which 191 covering 102 districts were selected for implementation. It is envisaged that these 191 District Enterprise projects will collectively generate about 250,000 direct and indirect jobs,” he said on the floor of Parliament.

35 of these companies will be in the Ashanti Region, 19 in the Brong Ahafo, 21 in the Central Region and 28 in the Greater Accra Region.

The Northern Region will have 17, the Upper East 4, Upper West 5, Western Region 10, and the Volta Region with 18.

“Out of the 191 projects selected for implementation, 104 will be operating in the agribusiness sector, whilst 20 are businesses in the meat and poultry sector. 40 of these companies will be operating in the construction and building materials sub-sector, whilst the remaining 27 are businesses operating in the cosmetics and pharmaceuticals sectors.

The President, Nana Akufo-Addo, launched the one district, one factory policy on August 25, 2017. At the launch, the president said that the programme will drive industrialization across the country.

Since its launch, the Chinese government’s private sector development corporation has pumped in $2 billion, with the Turkish government promising to partner Ghana to support the programme.

On November 14, the Vice President, Dr. Mahamadu Bawumia, cut sod for the establishment of a new cement factory under the programme.

The factory is 90 percent owned by the Iranian government, whereas a Ghanaian partner has ten percent shares in it.

Source: Citi