The One-District-One Factory initiative was instituted by President Nana Dankwa Akufo-Addo, to address the challenge of slow economic growth at the district level.<\/p>\n
The initiative aims to achieve this through a massive private sector led nationwide industrialization drive, which will equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally.<\/p>\n
This will allow the country to reap the rewards of industrialization, increase agricultural and manufacturing output, reduce reliance on imports and increase food availability.<\/p>\n
The proramme is expected to facilitate the creation of between 7,000 to 15,000 jobs per district and between 1.5 million and 3.2 million jobs nationwide by end of 2020.<\/p>\n
Objectives<\/strong> <\/p>\nIncrease job creation Promote rural income generation through grass-root participation in industrial and commercial activities Promote import substitution for currency stability Promote income generation for a wide range of producers Increase revenues through exports Attract and Improve profitability of investors Provide necessary incentive to increase yield of domestic output.<\/p>\n
Mission Statement <\/p>\n
The mission of the One-District, One-Factory programme is to identify and create business opportunities in the districts, harnessing the strengths and resources of the locals in an efficient technology and demand driven value chain.<\/p>\n
Target Group<\/strong> <\/p>\nWhilst we focus on funding enterprises playing in all sectors of the economy, our emphasis is on identifying high growth businesses in the strategic sectors of the economy.<\/p>\n
These include: Input\/Raw material producer groups Agro processing and business Textiles and Clothing ICT Pharmaceutical and cosmetics Waste management Distribution and trading Tourism, Arts and Crafts<\/p>\n
Investor Matching (International and local) Credit The project would support projects from a minimum of USD 5,000 and a maximum of USD 5 million based on project size and operational categorisation. Adjustments will be made where appropriate to accommodate projects outside the stipulated support bracket.<\/p>\n
Credit to businesses will come in the form of:<\/p>\n
Equity; Long and short term trade financing; Long and short term asset financing. Different modalities would be rolled out to cater for the various business segments.<\/p>\n
Applications for financial credit support are categorised according to the investment required and number of people to be employed as shown in the table below:<\/p>\n
Category<\/strong> <\/p>\nInvestment required Micro scale Enterprises<\/p>\n
– US$50,000 Small scale Enterprises<\/p>\n
– US$100,000 Medium scale Enterprises<\/p>\n
– US$1,500,000 Large scale Enterprises<\/p>\n
– US$5,000,000 Business support services<\/p>\n
Business assessment and assistance with developing a growth strategy; Capacity building, Mentoring and coaching; Provision of networking opportunities; Assistance with financial planning and financial management; Assistance with regulatory and legal compliance; Links to strategic partners for market and community access facilitation; Sector specific technical support including project management, quantity surveying and engineering services etc.; The National Secretariat coordinates and oversees the implementation of the One-District, One-factory programme.<\/p>\n
The PCU will work in direct partnership with the Ministry for Local Government and Rural Development, GIPC, REP, NBSSI, GEPA and all relevant stakeholder industries.<\/p>\n
To ensure that the Secretariat achieves its set target, District and Zonal Representatives are available in each district to provide the needed support.<\/p>\n
Key Milestones Achieved Since Project Secretariat Setup<\/p>\n
1.The Secretariat has set up the project office and launched its website<\/p>\n
2.Most officers have been recruited to assist the National Coordinator deliver on immediate targets<\/p>\n
3. The Secretariat has developed a road map and target timelines<\/p>\n
4. The timeline takes into considerations the expectations of the president and the practitioners of setting up each factory<\/p>\n
5. The Secretariat has received over 200 requests fro support so far<\/p>\n
6. The Secretariat has evaluated all requests and drawn up a list of 25 projects to be considered for the first 10 to implemented<\/p>\n
7. The Secretariat has also met with over 50 investors to discuss ways they can support the initiative<\/p>\n
8. These investors, both local and international, include financial, strategic and development focused institutions<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The One-District-One Factory initiative was instituted by President Nana Dankwa Akufo-Addo, to address the challenge of slow economic growth at the district level. The initiative aims to achieve this through a massive private sector led nationwide industrialization drive, which will equip and empower communities to utilise their local resources in manufacturing products that are in […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-392348","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n
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