1D1F: Gov’t facilitates the set up of 278 companies in four years – Trade Minister
The Minister for Trade and Industry, Alan Kyerematen, has indicated that, government through his Ministry has facilitated the setting up of a total of 278 companies and projects across the 16 regions of Ghana over the past four years under the One District One Factory (1D1F) initiative.
He said out of this number, 106 companies are currently in operation, 148 are under construction, and 24 are at the mobilization Stage.
Mr. Kyerematen gave these responses in Parliament when the Member of Parliament for Tamale North, Alhassan Sayibu Suhiyini asked a question on behalf of the Tamale Central MP, Muhammed Murtala seeking to know how many factories have been set up under the One District One Factory programme and how much government has spent for their establishment.
The Trade Minister outlined the role of the government which includes payment of interest subsidy on loans granted to 1D1F companies and projects by Participating Financial Institutions (PFIs) together with the granting of incentives.
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According to him, the incentives include waiver on import duties on capital goods and raw materials, and facilitation of access to infrastructure such as electricity, water, and roads.
He revealed that since the start of the programme, the government has successfully mobilized loans for 1D1F companies from the Participating Financial Institutions totaling an amount of GHS2.69 billion.
The Trade Minister added that the amount has been leveraged through the disbursement of an amount of GHS 260.9 million by the government as subsidy to de-risk loans and support interest payment for beneficiary 1D1F companies and projects.
