Ghana Signs $400 Business Funding Deal With China

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An amount of Four Hundred Million Dollars $400,000,00 has been signed by the Minister of Trade and Industry Alan Kyeremten on behalf of the government of Ghana, to help fund about 35 direct businesses.

An additional support of up to Two hundred million Ghana cedis GH¢ 2,000.000.00, has also been budgeted per District per project for infrastructural development.

These were disclosed by the Deputy Minister of Trade and Industry Mr. Robert Ahomka Lindsay, during the launching of District Implementation Support Team DIST of the One-District One-Factory, 1D1F initiative at the Extee Crystal Hotel in Bolgatanga, the Upper East Region.

About 170 participants drawn from the 13 Municipals and Districts Assemblies MDAs in the Upper East Region, Heads of Departments and Agencies, Security Services, the Media and Traditional Authorities attended the programme.

Speaking to Radio Ghana, the Deputy Minster said, government is determine to cover the 1D1F initiative by the year 2020, by creating the enabling environment for businesses and industry to thrive.

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Mr. Ahomka indicated that, government is providing a very clear direction in ensuring that the environment, the monitoring policy, utility rates are reduced by 30 percent, removal of import duties on equipment, better infrastructure and Planting for Food and Jobs which support the 1D1F policy are all part of the team with the objective of changing the landscape of the country.

Regarding job creation, the Deputy Minister stated that, the sole aim of the 1D1F is all about job creation, economic empowerment and greater opportunities, with the proposed three hundred and 23 companies, the target is to create three hundred thousand jobs for the youth.

Mr. Ahomka in his presentation on the Status of Implementation of the One- District One-One Factory initiative explained further that private sector and industry can sometimes succeed or failed because it is demand driven adding that, government’s expectation in working with the private sector is that, private enterprise federation as a member has the capacity to deliver.

He however, threw the challenge to the Departments and Agencies at the District level to give their fullest support to the DIST in order to achieve the 1D1F initiative.

In his welcome address, the Upper East Regioal Minister Mr. Rockson Ayine Bukari was happy that the launch of the 1D1F markes a mile stone of tapping into the region’s is and appeal to the team, to first consider the the defuct Pwulugu Tomato and the Zurungu Meat factories.

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