The ‘One District, One Factory’ initiative, District Industrialization Project of the Government has received a GH¢1 billion support package from GCB Bank.

Managing Director of GCB Bank, Ray Sowah announced yesterday in Accra at a forum organized by the Ghana National Chamber of Commerce (GNCC) on the policy, said his outfit was ready to support good proposals.
The theme of the forum was, “Leveraging on the ‘One District, One Factory’ Policy for Private Sector Growth.”

He added, as a dream that is long overdue for this country, we all know the transformative impact of this bold initiative on our national economy and Ghana’s development. Let me state here and now that GCB is as passionate about the ‘One District, One Factory’ initiative and its success just as government.

He continued, if Ghana can feed foreign industries with its raw materials only for it to import them as value-added products at exorbitant prices and a drain to our foreign exchange reserves, then why should we not as a people invest in the requisite machinery, human capital and other resources to process for local consumption and export?”

Minister of Trade & Industry, Alan Kyerematen, who was the keynote speaker, said govt of Ghana was proposing a standard framework which would include the identification of a national resource endowment for each district, preparation of district economic plan, a district medium term development plan, district resource map and list of potential projects, among others.

Alan Kyerematen revealed that “this is not a government setting up state enterprises. These are government facilitated enterprises projects to be driven by the private sector.”

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