One-district-one-factory destined to succeed – President Akufo-Addo

President Akufo-Addo says about 51 districts are expected to rollout business enterprises under the one-district-one factory initiative by the close of the year.

Those enterprises are to generate no less than 80,000 direct and indirect jobs for the youth, he said and called for the unalloyed support of all Ghanaians and financial institutions for the project.

“We have to banish the spectre of young able bodied men and women who leave our rural areas for urban areas in search of non-existent jobs. Every district in our country abounds in raw materials and it is the vision of government to create economic growth poles out of them. It is the only way we can deal effectively with the greatest threat to our future, widespread unemployment among our youth. The time has come to bring prosperity to all Ghanaians”, he said.

President Akufo-Addo was speaking at the inauguration of the One-district-one-factory initiative and the commissioning of the first project under the initiative at Ekumfi Eyisam in the Central region.

He said the initiative would promote rapid industrialisation at the district level driven by strong linkages to agriculture and other natural resources endowment.

He said US$340 million has been leveraged from local financial institutions for the programme.

He added that government in collaboration with Association of Ghana Industries (AGI) has also arranged a suppliers’ credit facility for US$2 billion from China to provide equipment, machinery and other facilities in support of the programme.

The Member of Parliament for the Mfantseman East Constituency, Mr Kingsley Ato Cudjoe expressed his gratitude to the President for bringing the first factory under the initiative to the Ekumfi District.

He said the factory would go a long way to improve the living conditions of the people in the district.