General News of Wednesday, 4 April 2018
Those hoping to see factories established in every district of the country before the end of Akufo-Addo’s tenure may have their hopes dashed as this may not happen, according to the Minister of Information, Mustapha Hamid.
He said it is their hope that if they are unable to create factories in all the districts as promised, successive governments would complete it.
Government has been criticized in recent times for not being able to ensure the construction of factories as part of the one-district one-factory initiative. Per the promise, it is expected that every Metropolitan, Municipal, and District Assembly will have a factory established to boost local economies and create jobs for the youth.
Responding to such criticisms today [Wednesday] on Asempa FM’s Eko Sii Sen programme, Mustapha Hamid said government is doing everything possible to bring the vision to fruition.
He noted that some local banks have promised to support the project by providing financing for entrepreneurs seeking to build these factories in partnership with government.
He explained that some persons have had their proposals to build factories already screened and approved, and that their projects will soon start.
“In the beginning, it was not as if the entire project was dependent on a Chinese facility. As you can see, apart from the Chinese facility we are talking about, the local EXIM bank, UMB, GCB, Ecobank had all come on board, they were also going to help or complement that Chinese facility. Of course, the amount of money coming from China was the largest…but if it fails, I don’t think it has thwarted the vision. The local banks that have promised to partner with the vision are continuing in that process and the vision will continue.”
“So once some of the firms have passed the screening stage, it means that they are basically ready to hit the ground,” he added.