Business News Wed, 15 Sep 2021

US-based Ghanaian investor lauds government’s 1D1F programme

Dr. Joseph Yaw Mensah, a United States-based Ghanaian investor has lauded the government’s One-District-One-factory (1D1F) programme, and advised Ghanaians to embrace and support it to facilitate job creation and poverty reduction.

According to Dr Mensah, also a consultant working for the Sky Bridge West Africa, a housing sector investment company in the US, the 1D1F would not only create jobs for thousands of Ghanaians but would also push rapid socio-economic growth and development.

Dr Mensah was speaking to the Ghana News Agency (GNA) in an interview when he accompanied Dr Freda Prempeh, the Member of Parliament (MP) for Tano North constituency to inspect the progress of work at the Tanoso Brick and Tile Factory, a 1D1F project in the Tano North Municipality of the Ahafo Region.

President Nana Addo Dankwa Akufo-Addo visited the project site on April 13, 2019, and expressed his satisfaction with the progress of work on the project being executed by Rhovanni Royal Limited.

Describing the 1D1F as a good initiative of the government, Dr. Mensah who said he had stayed in the US for more than 40 years, said the Sky Bridge West Africa intended to invest in Ghana because of the country’s prevailing peace, political and economic stability and good governance.

He said the Motoroo Ventures, Sky Bridge’s partners in the country had developed an interest and it was working out modalities to invest in the nation’s affordable housing project.

On her part, Dr Prempeh explained construction work on the brick and tile factory was almost complete, saying the contractors and the government was working strenuously to ensure equipment was imported from Italy for the factory to commence operation.

The MP, also a Minister of State in charge of Works and Housing, explained that on completion, the factory was expected to use raw materials to produce durable products such as bricks, roofing, tiles, pavers, terracotta, wall tiles, and panels to promote the local construction industry.

She explained it had the potential to create employment for about 1,000 people and indirect jobs for 1,800 residents, saying the large clay deposit in the enclave placed the enterprise in a competitive position to contribute positively towards the construction of affordable housing for Ghanaians.

Dr Prempeh who highlighted key investment potentials in the area conducted Dr Mensah round some ongoing development projects she was undertaking in the constituency.
Source: GNA