Business News of Mon, 6 Aug 201815
1D1F: 36 factories to be operationalized soon – Akufo-Addo
President Akufo Addo has said a total of 36 factories under the ‘’One District One Factory’’ programme are at various stages of operationalization.
Nana Akufo Addo believes these factories will create thousands of jobs across the country.
Nana Akufo Addo and the New Patriotic Party (NPP) have come under fire for failing to fulfill a campaign promise to establish a factory in every district.
But speaking at this year’s Asafotufiami festival in Ada over the weekend, Nana Akufo Addo says the government will deliver on its promises.
“The implement of the one district one factory policy has about 36 factories at his operationalization stage, which will create thousands of direct and indirect jobs,” he said.
The first factory under government’s much-touted One District One Factory initiative has been inaugurated in Tamale.
The motorcycle assembling plant located at Lamashegu is a Public – Private- Partnership between the government of Ghana and a Chinese private company known as Motorking Company Limited.
President Nana Akufo-Addo inaugurated the company mandated to assemble tricycles of different kinds.
These will include farm tricycles, rural ambulance tricycles, and mobile library tricycles.
So far the Ministry of Trade and Industry has screened 329 proposals for the construction of factories under the One District, One Factory programme.
Financial Analyst, Sydney Casely Hayford, has warned that government’s flagship programme, one district, one factory, could fail due to what he describes as the poor financing strategy for the programme.
According to Mr. Casely Hayford, despite the availability of funds for the programme, the government’s inability to design an effective financing strategy for it might negatively affect its success.
“If the government does not sit up this one district, one factory thing will fail. It will fail because first of all, I think the whole idea of how to finance it and make it work is wrong.”