Minister-designate for Trade and Industry Mr Alan Kyerematen has disclosed that government has been able to mobilize GH¢2.3 billion from local financial institutions for the successful implementation of its flagship, One District, One Factory (1D1F) programme.
He also announced that the innovative 1D1F policy has created 139,331 direct and indirect jobs since its implementation.
Mr Kyerematen added that an additional 285,915 direct and indirect jobs are projected to be created from various projects currently under construction through the initiative.
The minister-designate stated these on Friday when he appeared before the Appointments Committee of Parliament for vetting.
Government in addition to the money mobilised, he added, has also provided interest subsidy support of GH¢213 million meant for risk projects for the participating banks.
“The interest subsidy then makes it easier for the banks to come up profitably. In addition to that, GH¢603 million import duty exemptions have been granted 37 1D1F companies having come through this Honourable House”, Mr Kyerematen added.
The Minister-designate described the 1D1F policy as one of the most revolutionary policies introduced in Ghana since 1957 and led by the Ministry of Trades and Industry.
The re-nominated Minister for the Trade and Industry portfolio, who is also a lawyer, an entrepreneur and management consultant noted that the 1D1F goes to the core of bringing in industry and development to the doorstep of the ordinary people.
“That is why we have pursued with aggression this whole programme of 1 District 1 Factory,” he stated.
Mr. Kyerematen denied comments that the programme is an attempt to brush up existing companies and stressed that while the implementation framework allows for existing companies to join, the statistics tell a different story.
He stated that a total of 232 projects have been implemented under the 1D1F programme since the initiative started out of which only 64 are existing companies with 168 being new companies.
Mr Kyerematen stated that there are currently 76 projects operating under 1D1F, 107 are under construction while those ready to commence construction within the first half of 2021 is 49.
Giving a breakdown of the sectors in which the 232 companies operate, the nominee stated that 56% of the industries constructed are in agro-processing, 22% are into general manufacturing, 5% in meat processing, 4% in primary agriculture while 13% are general industrial enterprises
This, he noted, is contrary to claims that the government was only revamping already-existing companies, as he noted that only 64 of such facilities were captured under the 1D1F project.
Mr Kyerematen expressed the hope that if given the nod, work will be expedited on the policy, which, he noted, has the potential of creating more job opportunities and transforming Ghana’s economy.
“The 1D1F is one of the most revolutionary inventions to have been introduced since independence, it goes to the core of bringing industry and development to the doorstep of the ordinary people”.
Below is the total breakdown of the 1D1F initiative:
There are 232 IDIF projects in 154 Districts, at various stages of implementation, made up of 64 existing companies and 168 new companies.
They are categorised as follows:
• Projects Currently Operating as 1D1F – 76
• Projects under Construction – 107
• Projects ready to commence construction
(Mobilisation Stage) – 36
• Pipeline Projects to be financed by PFIs – 13
