The Ministry of Trade and Industry has revealed that 48 companies have received a total disbursement of 14 million Ghana Cedis through the One District One Factory (1D1F) Initiative, facilitated by the Ghana Exim Bank.
The objective of the 1D1F program is to support the private sector in establishing at least one manufacturing enterprise in each of the 261 districts across the country.
Earlier, in March 2022, the Ministry had communicated to Parliament that 60 companies had been provided assistance under the policy.
However, during a parliamentary session, the Minister of Trade and Industry, K.T Hammond, acknowledged the previous miscommunication and issued an apology.
“Mr Speaker, the ministry had in March 2022 inadvertently stated to this House that 60 1D1F companies had been supported by the Ghana Exim Bank. Mr Speaker, a further appreciation of the facts and analysis of the various companies and figures showed that it was not 60 but 48 companies and the ministry renders an unqualified apology to the House.”
Through the ongoing implementation of the 1D1F program, the government aims to stimulate industrialization, boost local production, and enhance the overall economic landscape of the country.