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Business News of Thursday, 12 December 2019

Source: citinewsroom.com

Trade minister reveals number of projects under 1D1F at various stages of implementation


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Trade and Industry Minister Alan Kyerematen has said the government’s flagship programme, One district, One factory, has so far witnessed about 200 companies that are at various stages of implementation.

The projects, Mr. Kyerematen said, cover a spread of 112 districts of the 275 districts in the country.

He further explained that the list includes 58 companies and projects already in operation and 26 projects under construction.

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Speaking at a lecture organised by the Danquah Institute on the theme: “Industrialising Ghana Beyond Aid for an Integrated Africa,” the Trade Minister said government envisages that the 1D1F initiative will generate a total of about 200,000 jobs.

Apart from the 1D1F projects, he stated that 58 Small-scale processing factories that are being financed by the African Development Bank (AfDB) in all the 16 regions across the country is expected to commence before the end of the year.

Mr. Kyerematen stated that these processing facilities are to be owned and managed by Graduate Youth who have been organized into groups under an innovative corporate structure known as the 1D1F ENABLE Youth programme.

The Minister revealed that the Ministry has completed the screening of all 16,770 applications from Graduate Youth who expressed interest in the programme adding that this component of the 1D1F initiative will create new young dynamic entrepreneurs across the country.

Stimulus package According to the Trade and Industry Minister, the government is currently supporting 10 large scale companies under the National Industrial Revitalization Programme (Stimulus Package).

These companies were drawn from a number of sectors including Poultry, Rice, Garments and Textiles, Agro-processing and Pharmaceuticals.

He said this is expected to boost the import substitution and export development programmes of the country.

One region, one park

Mr. Kyerematen revealed that the government has partnered with private sector players to develop Industrial Parks and Special Economic Zones (IP and SEZ) around the country which is aimed at providing dedicated land space with energy, water and telecommunications facilities for the establishment of manufacturing industries.

“The specific projects currently being supported under the IP & SEZ initiative include the Dawa Industrial Zone (a 2000-acre industrial park with a 330 KVA power facility located in Dawa in the Greater Accra region); West Park (a 440-acre Industrial Park located in Shama in the Western region promoted by the BlackIvy Group of the United States); Appolonia Business Park (a 200-acre mixed-used Industrial Park and Residential Enclave promoted by the Appolonia Development Company),” he disclosed.

The Minister stated that in collaboration with Sinohydro Corporation of China, Feasibility Studies, Engineering Designs and a Master Plan for the establishment of the Greater Kumasi Industrial City, a 5000-acre multi-purpose special economic zone.

The zone will incorporate the Boankra Inland Port and 21 specialized industrial parks including a Technology and Innovation Center, Biopharmaceutical Park, Food & Beverage Manufacturing, Automobile Park, Minerals and Metals Processing Facility, Furniture City, Convention & Exhibition Center and a Residential Enclave.

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