First Lady commends China over $2billion into 1D1F

First Lady Mrs. Rebecca Akufo-Addo has commended China National Building Materials Equipment Imports and Exports Company Limited (CBMIE) for their commitment to inject USD 2 billion supplier’s credit into the One District One Factory initiative (1D1F).

The First Lady noted that Ghana currently needed crucial investors like CBMIE because that is one of the surest ways Ghana’s current developmental aspirations can be achieved.

She called on the group to ensure they go the extra mile to make investment opportunities available to women entrepreneurs.

Announcing the facility at a meeting with the First Lady and her delegation of Women Ghanaian business leaders and Entrepreneurs, the President of CBMIE, Mr Chen Yongxin said the facility was made available to Ghana because the country is a preferred destination to do business in Africa and he has tremendous confidence in the government of Ghana to improve on the living conditions of the people through the 1D1F initiative.

The President of AGI, Mr Asare-Adjei in a remark called on the Ghanaian business community both at home and abroad to position themselves well to benefit from the initiative considering all districts across the country will benefit from at least one medium or large scale factory.

Explaining how the supplier’s credit facility was going to run for interested individuals and businesses, Mr. Asare-Adjei said the projects will have to be built on turn-key basis and will require local investors to provide at least 15 per cent of the investment required before the credit facility will be available to them.

He said the AGI saw the initiative as an Investment opportunity and was therefore partnering with the CBMIE and banks such as the GCB, Exim Bank, Fidelity among others to ensure that people with business ideas in the country were supported to realize their dreams.

Ghana’s Ambassador to China, Mr Edward Boateng commended the CBMIE for the bold step it has taken to invest in Ghana, saying “the government would ensure that they were not disappointed in any way.”

He called on the business community in Ghana to take advantage of the initiative saying “it would act as the catalyst that would catapult the country into its desired development levels.”

Accompanying the First Lady are Minister of State in-charge of Tertiary Education, Professor Kwesi Yankah, the Director of the Crop Research Institute (CRI), Mrs. Stella Ennin and a Director at the Ministry of Finance, Dr. Millicent deGraft Johnson.