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Business News of Friday, 21 April 2017

Source: citifmonline.com

10 factories to be commissioned under 1 district, 1 factory

Nana Akufo Addo African Print 4 Nana Addo Dankwa Akufo-Addo, President of Ghana

In the next few months, 10 factories across the country will be commissioned as part of its “One District One Factory” policy.

The factories, predominantly manufacturing plants, are expected to create at least 5000 jobs across the country.

Speaking at a media briefing Thursday, the National Coordinator of the “One District One Factory” Secretariat, Gifty Ohene Konadu, said the President is committed to achieving his major industrialization promise.

“10 factories will be ready for commissioning as part of the project over the next couple of months. We have scheduled June for these exercises.

By all indications, the President will commission them as part of our official launch of the programme.”

‘One District One Factory policy’ has so far generated pledges to the tune $3 billion from both local and foreign investors, according to Mrs. Ohene Adu.

“The interest has so far generated investment pledges and commitments, to the tune of $3 billion. These are pledges made from local and foreign investors.”

“We have also started receiving inquiries about our work. On the average, we have about 30 inquiries a week on what we have to offer as to what roles entities and individuals can play in order to benefit from it,” she added.

The ‘One District One Factory” policy was one of the President’s flagship policy promises during the 2016 electioneering campaign.

The programme is essentially a public-private partnership for ensuring the nationwide spread of industrialization in all 216 districts of Ghana.

Government has said the private sector will provide the investment, although it will partner if such an investment of public fund is adjudged prudent and advantageous.