Private Sector-Led Approach Aims to Boost Manufacturing and Value Addition
In a significant move to reshape Ghana's economy, President Nana Addo Dankwa Akufo-Addo launched the One District One Factory (1D1F) initiative on August 25, 2017, in Ekumfi, Central Region.
Date Created : 11/10/2023 12:00:00 AM : Story Author : Ghanadistricts.com / Nii Annang Shang
This visionary program seeks to shift the nation's economic focus from the import and export of raw materials to a robust emphasis on manufacturing, value addition, and the export of processed goods.
At the heart of the 1D1F initiative is a private sector-led strategy, where the government plays a pivotal role in creating an enabling environment. This facilitates businesses in accessing funding from financial institutions and other essential support services from government agencies to establish factories.
The core principle is for Ghanaian entrepreneurs to take ownership, operating the companies and assuming both risks and rewards associated with the projects.
The 1D1F program represents a transformative vision to harness district-level resources, fostering economic growth and sustainability. As the initiative gains momentum, it is poised to play a pivotal role in steering Ghana towards a future characterized by self-sufficiency, job creation, and a flourishing manufacturing sector.