President Nana Addo Dankwa
Akufo-Addo, has visited the Kete Krachi Timber Recovery Limited, a company operating under Government’s 1-District-1-Factory initiative .
It will be recalled that construction of the Volta Lake resulted in vast tracts of hardwood being submerged. These, over the years, have caused repeated fatal accidents on the lake.
The establishment of the Kete Krachi Timber Factory will thus reduce accidents on the Volta Lake, and will also guarantee the safety of entrepreneurs whose activities require that they travel on the Volta Lake on regular basis.
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Addressing the gathering at Asuogyaman on Thursday, 22nd
He told the gathering that, before the end of his first term of office all the promises made to the Ghanaian people in the run-up to the 2016 election will be fulfilled, including the full realization and implementation of the 1-District-1-Factory policy.
President Akufo-Addo indicated that
In addition to these incentives, the 1D1F enterprises have been assigned Technical Experts to provide free advisory services during the project implementation phase.
President Akufo-Addo, thus, encouraged the management of Kete Krachi Timber Recovery Limited to take advantage of these various incentives available to the 1-District-1-Factory companies to expand its operations to other districts.
In promoting the 1D1F initiative, Government is seeking to address the challenge of severe poverty and underdevelopment among rural and
In this regard, Government in the 2019 Budget and Economic Policy has provided funding to support the implementation of the initiatives, including providing direct assistance to Business Promoters.
Additionally, the implementation of the programme has also received significant support from both local and international financial institutions, including the disbursement of some GH¢500 million to 1D1F projects from local banks.
In addition to this, the Ministry of Trade and Industry is facilitating the engagement and negotiations between Business Promoters and some international financial institutions.