1D1F: 17 Factories Done, 16 Under Construction – Akufo-Addo | Social

President Nana Addo Dankwa Akufo-Addo has backed the One-District, One-Factory initiative below the broader industrialization agenda of the government, as a foundation for growing a home-grown infrastructure that's able to withstanding the uncertainties of exogenous shocks to the Ghanaian financial system.

In this regard, the president identified that the Eastern Region, alone, has accomplished 1D1F enterprises, with one other 16 at numerous levels of completion and shortly to be inaugurated, in addition to one other 4 on the venture conception stage.

The efficiency and success of the finished 1D1F tasks throughout the nation, on the subject of minimizing unemployment and shoring native manufacturing, has to date, been a transparent indication of President Akufo-Addo's long-held perception that Ghana's path in the direction of self-reliance is basically premised on the nation's dedication to industrialise.

According to the President, who started a three-day tour of the Eastern Region on Friday, 21 October 2021, “the whole purpose of the policy means having factories and enterprises here in Ghana, which will substitute the ones that are coming from abroad. That is the whole purpose of the policy. Instead of importing XYZ, you're going to have them made here.”

He added: “When we said we wanted to implement 1D1F and certain strategic industrial policies, we were told it couldn't be done, but today, everyone is talking about how important it is for the Ghanaian economy to lessen its dependence on foreign goods and foreign services.”

“Now, people are beginning to understand that, indeed, we had the foresight, we knew exactly what we needed to do to bring substantial progress, real progress not intermittent progress, but substantial progress, which is going to be strong and resilient. That is what I've noticed is ongoing,” he added.

President Akufo-Addo indicated additional: “By the time we are through, then the commitment of a 1D1F would have been established. And we can only strengthen the industrial development of the country, which is very important to note that foreign import dependence will not inure to our growth. We have the panacea, the solution, and the government is working towards it”.

President Akufo-Addo's 1D1F initiative is supposed to alter the character of Ghana's financial system from one which depends on the import and export of uncooked supplies to at least one which is targeted on manufacturing, worth addition and export of processed items from uncooked supplies which might be largely discovered within the districts throughout the nation.

Thus far, the One-District-One-Factory initiative, which has seen the continuing development of 296 factories throughout the nation, of which 125 have been accomplished, is a part of the muse on which the Akufo-Addo government is we're constructing a complete industrialization program, impressed by the event of strategic anchor industries, such because the rising automotive business and the co-ordinated exploitation for all the home worth addition of our bauxite and iron ore assets.

“I am hopeful that, by the end of my term, the full complement 296 factories will be in operation to help provide quality domestic alternatives to the consumption needs of Ghanaians and substantially reduce our dependence on imports. We do not only account for the youth as labor in the 1D1F programme, but also as managers and owners. Indeed, 58 of these factories are wholly owned by young people who have received direct government support”, he added.