UMB $100m support for One-District-One Factory project begins in Sept.

Business News of Friday, 14 July 2017

Source: citifmonline.com

2017-07-14

UMB ADDOOne district one factory project to begin in September

One district one factory project to begin in September. That is an assurance from the CEO of Universal Merchant Bank (UMB), John Awuah.

UMB Bank in March announced a partnership deal with government to inject 100 million US dollars into the One-District-One- Factory project over a period of time.

According to the bank, the project fits into its strategy of investing in public infrastructure for long term returns.

Speaking exclusively to 3FM BUSINESS John Awuah assured the first factory will begin in September.

“I can say we are at a stage where we are advanced. I can say confidently that within a space of one or two months, the first project should begin, for the one district on factory project”, he revealed.

He adds that the bank is still in talks with government to ensure that a flexible policy and legal frame work that will be attractive to investors is in place.

According to him, “We are still talking with the AGI, the trade ministry and the other stakeholders to ensure that we come up with a flexible policy and legal framework for the project”.

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