The Northern Regional office of the Ministry of Trade and Industry (MOTI) has kicked start the implementation of the one district one factory (1F1F) programme with the establishment of implementation teams across the 26 Metropolitan, Municipal and District Assemblies of the region.
The teams are to oversee the work of the promoters of the factories across the region to ensure economic growth.
They are also to assist with the technical aspect of the factories to be constructed at the various sites by ensuring there is due diligence.
The flagship government programme is expected to create job opportunities and also alleviate poverty by engaging thousands of young people in work.
The teams are chaired together by the Metropolitan, Municipal and District Chief Executives (MMDCEs) and the Members of Parliament.
The technical teams consist of the Ghana Export Promotion Authority (GEPA), Ghana Standard Authority, Volta River Authority (VRA), Ghana Water Company Limited(GWCL), Factory Inspectorates Division, Environmental Protection Agency (EPA), Plant Protection and Regulatory Service Department (PPRSD) and the Food and Drugs Authority.
Speaking to the B&FT in an interview, the Northern Regional Trade officer, Samuel Wood, noted that the region has the resource potentials to meet the demand of the investors and market.
According to him, the ability to implement the projects could help leverage economic growth of the region and the country, thereby reducing the unemployment rates.
MOTI, he said, has also submitted proposals to the commercial banks for them to support the programme to boost business activities in the country.
He added that the banks, after receiving the proposals, are also doing their due diligence on them to see the areas they can render support and that will soon commence with the funding.
“The One District One, Factory initiative is designed to set up at least one medium to large scale industrial enterprise in each of the 216 MMDAs,” he stated.
He stressed that though the projects are to be established under a Public-Private partnership (PPP) arrangement, where no private promoter is found, government will establish and divest later.
Touching on the financing aspect, he said the projects will be financed from the promoter’s equity, private financial institutions (PFI’s), local Private Equity Companies, China- AGI US$2billion financing scheme as well the Indian EXIM Bank credit facility.