Today in History: Government to establish one million enterprises nationwide – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo in 2021 stated that the government will establish one million enterprises across the country through the "One District One Factory" initiative.

According to the President, this was part of the government's industrialization, value addition, and job creation agenda.

Read the full story originally published on June 22,

Read full article2021 by GhanaWeb

• Government has promised to establish one million enterprises across the country

• The move is hinged on government's commitment towards industrialization, value addition and job creation

• The One District - One Factory initiative was introduced by the Akufo-Addo government in 2017

The Akufo-Addo administration has pledged to establish one million enterprises across the country.

President Nana Addo Dankwa Akufo-Addo speaking at Kwaso in the Ejisu Municipality following the commissioning of a One District - One Factory initiative pointed that the move formed part of his government's agenda towards industrialization; value addition and job creation.

On the back of the president’s pledge, Chief Executive Officer of the Ghana Investment Promotion Centre, Yofi Grant, has disclosed that Ghana is targeting to raise US$3 billion in Foreign Direct Investment (FDI) for 2021.

Addressing journalists at a press briefing on Sunday June 20, Yofi Grant revealed the country has so far accrued US$780 million in FDIs for this year.

“For every country, foreign direct investments are recognised as very important to its economic and socio-economic development. In Ghana, I dare say that over the past few years we have upped our game and our economy has become more attractive.

"Indeed, I dare say that since 2017 Ghana’s economy grew by 8.1% and through 2019 we had an average growth of 7%. This symbolises a country that is walking the talk and doing all it needs to do to become one of the fastest-growing economies in the world,” Yofi Grant told journalists.

He continued, “Foreign Direct Investments grew. Our FDI in 2017 was $4.9 billion; it dropped marginally in consonance with the drop in global FDIs in 2018 to US$3.54 billion. In 2019, it further dropped to $1.01 billion.

"The interesting thing however is that, despite the negative impact of COVID-19 on global economies, Ghana saw an increase in FDIs in 2020 to $2.65 billion,” he stressed.

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