Elizabeth Ofosu-Adjare, the Minister-Designate for Trade, Agribusiness, and Industry has stated she sees the solution to the One District, One Factory (1D1F) initiative in the 24-hour economy.
According to her the One District, One Factory has its plus and minuses, she added that the program set up factories where individuals could add value to our raw materials.
The Minister-Designate for Trade further revealed that she has been briefed about the challenges of the program.
Speaking during her vetting by the Appointments Committee on Wednesday, January 22, she detailed, “One of the challenges I have been briefed by the ministry is the fact that these factories lacked raw materials. We all know that one of the challenges in the agro-processing industry is the lack of raw materials. So, these companies have not processed the way the government wanted it to be”.
“Also, even though the government supported them with some inputs, they lacked capital or access to the same, and because of that, they have not been able to do their work as expected of them. If you look at the other 1D1F companies that signed onto the programme, their major challenge was the fact that the government capped their interest rate at 20% and promised to pay 10%, which was a very good programme”, she detailed.
Elizabeth Ofosu-Adjare added, “So, these are the challenges of that 1D1F but there is always a challenge to our problems. It is good that it has started. Now that we know the challenges, how are we going to solve them? I see the solution to the 1D1F in the 24-hour economy”.
