Ofori-Atta while addressing Parliament during the budget reading says “Mr. Speaker, in line with the government’s unwavering commitment to industrialization, the implementation of the flagship One District, One Factory (1D1F) Initiative is on course. As of June 2023, 126 factories were operational nationwide. Over 160,000 direct and indirect jobs have been created, especially for the youth who have been mobilized to establish agro-processing factories in 58 districts.”
The One District One Factory (1D1F) initiative is the vision of His Excellency the President, Nana Addo Dankwa Akufo-Addo to change the nature of Ghana’s economy from one which is dependent on the import and export of raw materials to one which is focused on manufacturing, value addition and export of processed goods. These raw materials are largely found in the districts which would have otherwise gone to waste.
The initiative as proposed by His Excellency Nana Addo Dankwa Akufo-Addo is private sector-led. Government creates the necessary conducive environment for businesses to access funding from financial institutions and other support services from Government agencies to establish factories. Ghanaian entrepreneurs will thus own the companies, operate them and bear all the risks and rewards of the projects.
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