Trade Ministry woos 1D1F investors with bank facilities
The Trade and Industry Ministry says businesses that are still interested in government’s District One Factory Programme, should not be discouraged in terms of access to funding because ten banks including GCB Bank and Exim Bank are currently supporting the project.
It says over 80 factories are already operating under the 1D1F project.
“Now we have ten banks supporting the 1D1F, so we request them to bring their business plans. We have some external consultants we have engaged so they first screen the projects to identify the viable ones, and those ones are then given to the banks. Based on the person’s own interest he or she will tell us which bank they prefer and then the banks also take them through their normal appraisal process and if they qualify they get the support. So, the financial support is already there,” Ernest Agyapong, Team Lead of the 1D1F initiative at the Trade Ministry, told Citi Business News at the launch of SBS West Africa.
Mr. Agyapong says businesses should not hesitate in presenting their proposals.
“The whole programme is structured in such a way that private investors express interest to be part of the programme, then we ask them to bring their business plans because eventually, those who require financial assistance will land with these private banks that are supporting the programme.”
The 1D1F project is one of the government’s flagship programmes aimed at promoting industrialization.
Meanwhile, SBS Water Systems, a South African Company with its new and West African branch in Ghana is set to explore the local market with its premium liquid storage solution for multiple applications.
Chief Executive Officer of the company, Emmanuel Djan, says they are ready to partner with the government to provide water solutions to farmers across the country.