The Minister for Trade and Industry has revealed that the actual implementation of government’s flagship policy one-district-one-factory does not lie in the hands of government anymore but with “business promoters”.
The Nana Addo Dankwa Akufo-Addo-led NPP government made a campaign promise while in opposition to partner private sector to construct a factor in each of district.
He had said “the first batch of 51 districts, for the implementation of the policy, have been identified, for which the ‘[2017 Asempa Budget]’, as approved by Parliament, had earmarked $465 million for setting up the factories,” but that is yet to happen.
Answering questions on the floor of Parliament, Wednesday June 20, the sector minister Alan Kyerematen could not give a definite time when implementation would start. He said, government has provided the “framework” that will support implementation which will be determined by private investors.
“The pace of the implementation of this project is squarely in the hands of its business promoter. They dictate the pace of implementation. Government has already provided the incentive framework to support [them],” he told the house.
He reiterated that the One-district One-factory initiative is primarily driven by the private sector and government will make only a maximum of 30 percent investment in each of the factories.
He said government has already been able to raise some financial capital from stakeholders to be used as and when the need be.
“Government, working through the Ministry of Trade and Industry, has been able to mobilize over ?2.5 billion from participating financial intuitions that is available to be accessed on a case by case basis”
An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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