Business News of Thu, 20 Apr 20176
'One-district, one-factory' to begin in June
The “One District One Factory” programme will be launched In June this year with the start of work on 10 new factories.
The National Coordinator of the 'One District, One Factory' secretariat Mrs Gifty Ohene-Konadu announced this at a media briefing last Wednesday, confirming that the secretariat had received the GHC450million earmarked in the 2017 budget to kick-start the project.
Besides government's commitment, she said interest in the programme had generated investment pledges and commitments to a tune of US$3billion.
The “One District One Factory” programme is a flagship industrialisation programme promised by the NPP during the 2016 electoral campaign. It is aimed at building a factory in each of the 216 districts in the country.
The programme, which will be implemented with the private sector, will also provide business support services and capacity budding, mentoring and coaching.
It would also provide networking opportunities, assistance with financial planning and financial management, regulatory and legal compliance, links to strategic partners for market and community access.
Mrs Ohene-Konadu told the media that the financial support for the projects would start from a minimum of US$5,000 to a maximum of US$10,000, based on project size and operational categorisation.
She said the secretariat is encouraged by an intense interest of the public determined to take advantage of the policy.
She said there has been meetings with some primary stakeholders - business leaders, political players and potential investors - from countries including South Africa, India, China, Britain, Turkey.
"We have also begun to receive enquiries about our work. On average, we have about 30 enquiries a week on what we have to offer and what role entities and individuals can play in order to benefit from it,” Mrs Ohene-Konadu said.
Mrs Ohene-Konadu said the secretariat was currently reviewing a number of business plans and urged investors and businessmen and women interested in the project to submit their proposals and plans for review.
Meetings with entities like the Association of Ghana Industries (AGI), Chamber of Commerce, ADRA Ghana and others have been held to clarify the purpose and objectives of the project, she said.
“These meetings along with consultative ones, which have been very successful, are fundamental meetings necessary for the success of the project,” she said.
The June launch of the industrialisation programme will be the second major initiative after the 'Planting for Food and Jobs' programme was unveiled last Wednesday.
The GHC516million programme is expected to create 750,000 jobs.
The Canadian government and the World Bank are supporting the farming programme with $125million and $50million respectively.
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