The Ministry of Trade and Industry has stated that the One District One Factory (1D1F) Initiative of the Ghana Exim Bank, which was made possible by 48 firms receiving payments totalling 14 million Ghana Cedis, is now operational.
In order to build at least one manufacturing enterprise in each of the 261 districts spread out across the nation, the 1D1F initiative seeks to recruit the assistance of the private sector.
60 businesses have already profited from the plan as of March 2022, the Ministry stated in a statement addressed to Parliament.
The minister of business and industry, K.T. Hammond, issued an apology for the prior error during a parliamentary session.
Mr. Speaker, the government accidentally informed this House of the fact that the Ghana Exim Bank had given money to 60 1D1F companies in March 2022. In front of the House, the minister professed his profound sorrow for his actions and apologised for his attitude. Mr. Speaker, after a more thorough analysis of the data, and taking into consideration all the various businesses and data, it was discovered that there were in reality 48 firms, not 60.
Through the 1D1F programme, which is now being implemented, the government is making an effort to advance industrialisation, boost domestic output, and enhance the general economic environment of the country.