Business News of Tuesday, 12 October 2021
Source: www.ghanaweb.live
2021-10-12Here are the factories commissioned, revamped under 1D1F in two months
The one-district-one-factory initiative is a flagship initiative of the Akufo-Addo government
• Factories are being revamped under 1 District 1 Factory initiative
• The president is commissioning some newly built factories
• Both the new and revamped factories will employ people, directly and indirectly
President Nana Addo Dankwa Akufo-Addo has in the past two months commissioned some factories under his government’s flagship
Read full articleprogramme, 1 District 1 factory initiative.
Some of the factories were built from scratch while others were revived from their almost dead state.
GhanaWeb in this article outlines the 7 factories President Akufo-Addo commissioned during his regional tour of the nation beginning September to now.
Rubber factory
President Akufo-Addo on September 3, 2021, commissioned a $2.1 million rubber processing plant at Wassa Dompim in the Western region.
The Ghanaian owned rubber company, Narubiz Rubber Factory has the capacity to process 20 tonnes of rubber a day and 6240 tonnes a year.
The rubber can be exported to foreign countries like Malaysia, Turkey and Hong Kong.
The income generated from this export amounts to $9.6 million.
Phase 3 KEDA Ceramics Factory
During the president's tour of the Western region four months ago, he opened Phase 3 of KEDA ceramics factory.
The factory has employed 7,000 people both directly and indirectly, according to reports.
The ceramics factory currently exports 60% of the tiles produced on the West African market.
Rice Factory
A 6.7 million rice processing factory was commissioned at Sefwi Akontombra in the Western region on September 5, 2021.
It produces between 1.5 to 2.8 tonnes of processed rice in one hour.
Reports say 118 people have been employed so far and over 600 farmers from the Akontombra district have been engaged to supply paddy rice for processing.
Cassava factory
CH Global Limited, a cassava and yam processing factory was commissioned by the President on September 9, 2021, at Addo Nkwanta in the Krachi East District of the Oti region.
The facility is expected to process yams into frozen chips and yam balls.
The first phase of the project aims at processing 120 yams per hour. This means that 216,000 tubers of yam will be processed for yam chips and yam balls in a year.
Phase 2 of the project is expected to commence in 2022.
Darko Farms
During President Akufo-Addo’s tour of the Ashanti region, he visited the oldest and largest private poultry farm in Ghana, Darko farms.
The government pumped GH¢18 million into the poultry farm to revamp the almost dead company.
The financial support, which was channelled through the Ghana EXIM Bank, followed the inclusion of the company in the 1 District 1 Factory (1D1F) programme.
The company, which faced operational challenges due to financial constraints prior to the capital injection was due for an additional GH¢4 million, to enable it expand and produce at maximum capacity.
Garment factory
A garment factory located in Koforidua was revamped on October 5, 2021.
Maa Grace Company Limited specializes in the production of utility clothing, uniforms for security forces, hospital scrubs, uniforms for hotels, schools and the production of standardized uniforms.
Shoe Factory
President Nana Addo Dankwa Akufo-Addo, on Wednesday, October 6, 2021, commissioned Shoe Fabriek Ltd.
The GH¢6.2 million shoe manufacturing company operating under Government’s 1D 1F initiative.
It is producing 800 pairs of high-quality shoes, including security boots, school shoes and casual shoes for men, women, and children, per day.
According to the promoters of the project, the siting of the factory in the Akuapem North District is going to create jobs for the residents, which will help reduce rural-urban migration.
Shoe Fabriek, according to reports, has, so far, created jobs for one hundred and forty-four (144) people in the district.
