Senior Minister, Yaw Osafo Maafo has said that government will revamp about 75 distressed companies as part of the one-district, one-factory programme.
According to the Minister, government has identified and is ready to rescue companies that have seen difficult times during their operations and have been forced into dormancy.
“Already we have identified about 75 such companies who must aided to go into proper production because their problems could be working capitals, their problems could be location. Their problems were initially power outages. We had about four years of power crisis and many factories closed down,” Osafo Maafo said.
Addressing development partners at the 2017 IMF/World Bank annual meetings in Washington D.C, the Senior Minister said, most of the factories to be built under the one-district, one-factory programme will be agro-based because Ghana has arable land for agriculture productivity.
He explained that government launched the planting for food and jobs programme prior to the one-district, one-factory to ensure that there is constant flow of raw materials to feed the factories.
“Obviously if we’re talking about one-district, one-factory, most of the factories are likely to be agriculture-based because the country is naturally an agrarian country. Parallel to this we have launched planting for food and jobs, meaning that the government wants to strengthen the agriculture base to enable us let this one-district, one-factory takes off properly,” he said.