Ghanaians have been encouraged to embrace the government’s flagship programme, ‘One District One Factory’ (1D1F) as it forms a critical component of the government’s agenda to industrialize the country, Mr Michael Okyere Baafi, Deputy Minister of Trade and Industry (MOTI) has stated.
As a nation, the government have no choice but to industrialise; “industrialization must be a way of life for the people,” Mr Baafi this during the inauguration of the Tema Metropolitan Assembly’s (TMA) District Implementation Support Team (DIST) for the 1D1F programme in the metropolis, which was monitored by the Communication for Development and Advocacy Consult (CDA Consult) in Tema.
He said apart from the creation of jobs through the programme, 1D1F would also facilitate knowledge and skill transfer to many who would get the opportunity to work in the industries to be established under the initiative.
Mr Baafi charged the newly inaugurated Team to see it as their responsibility to get many more factories to be established in Tema which is known to be the industrial hub of Ghana while educating people on the benefit of the 1D1F.
Mr Yohane Amarh Ashitey, Tema Metropolitan Chief Executive chairing the inauguration said he believed in allowing the private sector to lead in industrialization therefore his resolve to ensure that the 1D1F programme was utilised by many to get more industries in the metropolis in addition to what exists.
He said the importance of industries was evident during the covid-19 pandemic when Ghana had to rely on its local industries for the production of hand sanitizers and nose masks which positioned the country as one of the best in the management of the virus.
Mr Kofi Addo, Lead Officer for the 1D1F programme, said the Ministry of Trade and Industry has a ten-point industrial promotion agenda of which the 1D1F was part.
Others included the Strategic Anchor Projects, Business Regulatory Reform, Industrial Park and Special Economic Zones, and the Industrial Revitalization Programme.
Mr Addo further stated that an agreement has been signed with 15 commercial banks which ensured the capping of interest rate on loans for such companies at 20 per cent to ensure stable funding for the project adding that government also subsidizes 10 per cent of the interest rate for companies with majority Ghanaian owned shares.