Was Alan Kyerematen lying about the 1D1F GHC 14 million in monetary support?

Parliament receives an apology from KT Hammond.

The Ghana Exim Bank’s One District One Factory (1D1F) Initiative, which was made possible by the ministry of trade and industry, has disclosed that 48, not 60, enterprises have received a total payment of 14 million Ghana Cedis.

The 1D1F plan seeks to aid the private sector in starting at least one manufacturing business in each of the 261 districts around the nation.

The Ministry informed Parliament that 60 enterprises had received support under the strategy earlier, in March 2022, under the direction of Alan Kyerematen, a flagbearer candidate for the New Patriotic Party (NPP).

However, K.T. Hammond, the new minister of trade and industry, apologised for the earlier misunderstanding at a parliamentary session.

“Mr. Speaker, the government had accidentally informed this House in March 2022 that 60 1D1F enterprises had received financing from the Ghana Exim Bank. The ministry offers an unconditional apologies to the House. Mr. Speaker, additional consideration of the facts and examination of the numerous firms and numbers revealed that there were really 48 companies, not 60.

The government wants to promote industrialisation, increase domestic output, and improve the nation’s general economic climate through the 1D1F programme, which is still being implemented.

The Herald has learned that many of the initiatives run by the Trade Ministry that are being hailed as successes under the Alan Kyerematen government are not actually successes.