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    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

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    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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1D1F must be carefully implemented to produce better results – IEA

bycitibusinessnews
February 26, 2020
in Manufacturing
Senior Economist, Institute for Economic Affairs (IEA), Dr. John K. Kwakye.

Senior Economist, Institute for Economic Affairs (IEA), Dr. John K. Kwakye.

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A senior economist with the Institute for Economic Affairs (IEA), Dr. John K. Kwakye, says government’s flagship industrialization policy, one district-one factory, must be re-engineered if it is to yield the right results.

Addressing the press in Accra on February 25 as part of IEA’s assessment of the President’s state of the nation address, Dr. Kwakye stated that while the idea of industrialization is good, its execution must be done taking cognizance of the country’s previous attempts at industrializing.

“The 1D1F should be informed by our previous industrialization experiences and international best practices. There is a need for careful planning in terms of what kind of products we want to produce; the kind of factory sizes; where should they be located and then the supply chain.”

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“It has also been suggested that dotting factories all over the country is probably not the best approach. Other successful countries created what they call large industrial parks comprising strategic industrial conglomerates,” Dr. Kwakye stated.

1D1F progress made

President Nana Akufo-Addo delivering the State of the Nation Address last week said the 1-District-1-Factory is progressing and beginning to show dividends.

He stated that a total of 181 projects, spread across the 112 districts, are currently at various stages of implementation under the programme.

He said Fifty-eight companies already in operation; 26 projects currently under construction; 58 AfDB small-scale projects ready for sod cutting in the early part of this year; and 26 pipeline projects are ready to commence implementation by the 1st quarter of this year.

EXIM Bank last month signed a US$100 million facility with Credit Suisse to help complete, this year, twenty (20) of the export-related factories.

It is envisaged that the 1D1F initiative will generate a total of 228,866 direct and indirect jobs.

Even though the latest Ghana Living Standards Survey has recorded a drop in unemployment from 11.9% in 2015 to 7.3% in 2019, a lot more needs to be done to create more jobs with urgency.

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