The Trade and Industry Minister-designate, Alan Kwadwo Kyerematen, has indicated the government’s industrialisation flagship programme, the One-District-One Factory (1D1F), is one of the most revolutionary interventions to have been introduced in the country since independence.
He said the programme “goes to the core of bringing industry and development to the door steps of the ordinary people. And that is why we have pursued with aggression this whole programme of 1D1F.”
Answering questions before the Appointments Committee of Parliament last Friday, Mr. Kyerematen disclosed that currently 232 1D1F projects were at various stages of implementation.
According to him, contrary to suggestions that the 1D1F projects are all existing companies, the statistics pointed to a different picture, noting that out of the 232 companies, only 64 are existing companies, while the remaining 168 are new companies.
The nominee, who has been in charge of the Trade and Industry Ministry for the past years, gave the breakdown and said that the projects which are currently in operation as 1D1F were 76, whereas those under construction were 107.
“The projects ready to commence construction within the first half of this year (2021) are 49. So far, out of the 22 projects 56% is agro-processing projects, 22% is general manufacturing, 5% is meat processing, 4% for primary agriculture and other industrial enterprises which constitute 13%,” he explained further.
He, however, indicated that the programme implementation framework allowed existing companies to be 1D1F companies as well.
He pointed out that through the intervention of the 1D1F, 139,331 direct and indirect jobs had been created by the 76 companies that were in operation, and that 285,915 additional direct and indirect jobs were projected from the projects that were under construction.
“Through this initiative we have been able to mobilise GH¢2.3 billion from local financial institutions. Government has provided interest subsidy payment to support GH¢213 million.
“This is meant to de-risk the projects for the banks because the interest subsidy makes it easier for them to become more profitable. And in addition to that, GH¢603 million import duty exemptions have been granted to 37 1D1F companies,” he said.
By Ernest Kofi Adu