President Akufo-Addo of Ghana has disclosed that the 1 District 1 Factory (1D1F) initiative is expected to create over 258,000 permanent jobs in the coming years.
He admitted that thousands of Ghanaian youth, both graduates and apprentices are earnestly looking for jobs and shared that this knowledge informed the 1D1F policy.
Speaking at the commissioning of the B5Plus Group’s steel manufacturing company, President Akufo-Addo expressed his joy to be at the event.
“I am very happy to be here to join you for this commissioning. This plant is a concrete manifestation of a new paradigm of economic development this administration has been pursuing since 2017”.
On his accord, the commissioning of the factory is a true reflection of the 1D1F policy creating more direct and indirect jobs and adding value to the nation’s production.
“The government took the step rollout the 1D1F to create high-paying jobs for Ghanaians. 139,000 have received permanent jobs from the 75 companies currently established under the 1D1F policy. This policy will recruit more graduates into high-paying jobs and we expect some 258,000 more Ghanaians to get permanent jobs under the policy”, he said.
On his authority, companies like the B5Plus Group are pushing the industrial transformational agenda and he (President Akufo-Addo) pledged government support to any and all companies willing to further the 1D1F agenda.
“The government will continue to support companies operating here under the policy and provide incentives to increase the number of companies under 1D1F. We will provide them with tax holidays, interest rate subsidies for greater productivity and efficiency”.
The President encouraged the B5 Plus Group to take advantage of the incentives and establish other enterprises across the country and recommended the group for “establishing the state of the art plant capable of feeding the entire of Africa”.
The 1 District 1 Factory initiative is a key component of the Industrial Transformation Agenda of the NPP Government. The concept was first introduced by the Ministry of Trade, Industry and Presidential Special Initiatives during the past New Patriotic Party (NPP) administration, as part of an integrated programme for Accelerated Growth and Industrial Development.