107 factories fully operational under 1D1F initiative – Akufo-Addo

President Nana Akufo-Addo says a total of 107 factories are fully operational under the One District One Factory (1D1F) initiative.

The President says over 200 of these factories are under construction and will be completed soon.

The President made these remarks when he commissioned the Atlantic Life Sciences Company, a pharmaceutical company under the 1D1F programme.

“The $30 million Atlantic Lifesciences Ltd, a company operating under Government’s 1-District-1-Factory Programme, and located at Ningo Prampram is the 107th factory completed and operating under the initiative out of the 278 enterprises being established and rehabilitated across the country.”

“Out of the total investment for the project, which is estimated at thirty-five million dollars (US$35 million), Ghana Exim Bank provided a credit facility to the tune of $10 million for the procurement of plant, equipment, and machinery. This underscores the kind of support given by government to the private sector to take advantage of economic opportunities in the country,” he added.

Atlantic Lifesciences Ltd., with the support of government, has established the factory to manufacture vaccines, anti-snake serums, eye drops, inhalation anaesthesia products, syrups, tablets, and capsules, in Larkpleku.

About the 1D1F programme

The 1D1F is a private sector-led initiative envisioned by President Akufo-Addo to create the necessary conducive environment for businesses to access funding from financial institutions and other support services from government agencies, to establish factories and production units in the various districts of the country.

It seeks to change the structure of Ghana’s economy from one which is dependent on import and export of raw materials to one which is focused on manufacturing, value addition, and export of processed goods by processing raw materials found largely in all districts of the country into finished or semi-finished goods.

Source: Citi News

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