We have disbursed GH¢14million to 48 companies, not 60 - Trade Minister clarifies

Minister of Trade and Industry, Kobina Tahir Hammond, has clarified that his outfit has disbursed a total of GH¢14 million to 48 companies under government's 1 District 1 Factory initiative and not 60 companies as stated earlier.

In March this year, KT Hammond had told the House that the said amount was given to 60 companies.

Speaking on the floor of Parliament, he said the ministry renders an unqualified apology to the House for that error.

The Minister of Trade and Industry said, "Mr Speaker, the ministry had in March 2022, inadvertently stated to this House that 60 1D1F companies had been supported by the Ghana Exim Bank."

"Mr Speaker, a further appreciation of the facts and analysis of the various companies and figures showed that it was not 60 but 48 companies and the ministry renders an unqualified apology to the House," KT Hammond said.

It would be recalled that KT Hammond during his vetting as the trade minister described government's One District, One Factory initiative as a great project.

He explained that the project which seeks to establish a factory in all districts across the country will boost local production which will subsequently, improve the government's industrialization agenda.

President Nana Addo Dankwa Akufo-Addo on August 25, 2017, launched the 1D1F programme at Ekumfi in the Central region.

He then cut sod for the commencement of the first factory, Ekumfi Fruits and Juices.

In 2022, President Nana Addo Dankwa Akufo-Addo announced that 106 out of 278 factories under his government's 1D1F initiative were operational.

He added that 148 factories were under construction while 24 were at the mobilization stage.

He made this known during the 2022 State of the Nations Address in parliament.

ESA/FNOQ