During the mid-year fiscal policy review of the budget statement and economic policy, Finance Minister Ken Ofori-Atta reported that the government’s One District One Factory initiative has resulted in the creation of over 160,000 direct and indirect jobs.
As of June 2023, 126 factories were operational in 58 districts across Ghana, with a focus on providing employment opportunities for the country’s unemployed youth.
Ofori-Atta emphasized the government’s commitment to industrialization and highlighted the progress of the 1D1F program. The initiative is designed to encourage private sector-led development by facilitating access to funding and support services from government agencies for businesses aiming to establish factories and production units in various districts.
The main objective of the policy is to transform Ghana’s economy from one primarily reliant on the import and export of raw materials to a manufacturing-focused model. By processing raw materials found in the country’s 275 districts into finished or semi-finished goods, the government aims to boost value addition and enhance the export of processed goods.
With 126 operational factories and ongoing efforts to create employment opportunities for the youth, the One District One Factory initiative continues to be a vital component of Ghana’s drive towards industrialization and economic growth.