19 businesses under 1D1F ready to go in Greater Accra - Deputy Trade Minister

Nineteen companies under the governments ‘One District One Factory’ (1D1F) initiative in Greater Accra Region is ready to go, Deputy Trade Minister, Ahomka Lindsay has revealed.

He made this known at the inauguration of the district implementation support teams on the 1D1F for the Greater Accra Region.

Lindsay said “of the 50 companies [to be established in Greater Accra] 19 are beyond what I will call bankable.”

“Six of these companies are self-financed, seven have had their term sheet issued by the banks, two have already had their credit approved, so they are done and ready to go,” he added.

Over 80 percent these are Ghanaian owned.

The remaining 31 factories are still going through the process with the banks.

“That is why we believe and will do everything we can (to) deliver for the Greater Accra Region, the commitment made on 1D1F,” Lindsay affirmed.

He disclosed that, towards the end of last year, the businesses distributed among a number of financial institutions that government has being working with.

These financial institutions committed over GHS 2.5 billion towards supporting the 1D1F.

“We’ve got over 700 business plans [across country] that have been sent to us. We have a team of experts that have analysed over 600 of them. 319 of those are what we call bankable.”

Of those bankable businesses, he said over 32 are in the same position as the 19 companies in Greater Accra, which are ready to go and 90 are at the final stage of credit with the banks.

He pointed out that government believes it can reach the target of the programme.

The programme is expected to facilitate the creation of between 7,000 to 15,000 jobs per district and between 1.5 million and 3.2 million nationwide by end of 2021.