26 C
Accra
Wednesday, January 27, 2021
No menu items!

GIPC urges investors to take interest in 1D1F initiative

Must Read

EPA to collaborate with Zeal Environmental Technologies to operationalise Petroleum Lab

The Environmental Protection Agency (EPA) is to collaborate with Zeal Environmental Technologies to efficiently operationalise Agency’s Laboratory in Takoradi...

119 foreign nationals arrested for entering Ghana illegally

A total of 119 Economic Community of West African States (ECOWAS) nationals have been arrested for entering Ghana through...

FDA registers more local products amid COVID-19

Despite the negative impact of COVID-19 on the economy in 2020, the Food and Drugs Authority (FDA) registered more...

Chief Executive of the Ghana Investment Promotion Centre, GIPC, Yofi Grant has urged investors to have a critical look at the One District One Factory, 1D1F, policy and partner Ghanaians to create a thriving economy. The 1D1F initiative has so far recorded some positive gains as its secretariat reports that about 170 factories are at various stages of completion.

Out of this number, a total of 28 Factories have been completed and operating fully as 1D1F projects while government has partnered the private sector to either expand or revive existing companies, bringing the total number of operational companies under the 1D1F and private partnerships to 76.

In a statement, issued after a visit to, B5 Plus Company one of the 1D1F projects in Accra, Mr. Grant noted that besides the story of the company and its rippling effects in the steel industry, the impact of the 1D1F initiative transcends industries such as agro-processing, garments and apparel.“We believe that these opportunities offer ample and very attractive returns so we invite various investors to have a good look at the 1D1F policy and partner with Ghanaians so together we can create a great economy” said Mr. Grant.

With government support, under the 1D1F, B5 Plus is now pursuing the construction of what will be the largest metal manufacturing factory in West Africa. The more than 80 million-dollar project is located within the Ningo Prampram District of the Greater Accra region. Chief Executive of B5 Plus Company, MukeshTakwani explained that the project when completed will create about five thousand jobs in addition to the existing ten thousand workers already employed by the Company.“We just finished the first phase of the new construction and at present, we already have about 2300 workers on sight.

But once we complete, we are projecting over 5,000 direct and indirect jobs to be created and up to 10,000 with the second and third phase”. Said Mr. Takwani.B5 Plus Company Limited, one of Ghana’s biggest steel and metal fabrication companies situated around the Kpone barrier, produces more than four thousand iron and steel products such as nails, wire mesh, iron rods and roofing sheets.

Story filed by Naa Dzagbley Ago

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

EPA to collaborate with Zeal Environmental Technologies to operationalise Petroleum Lab

The Environmental Protection Agency (EPA) is to collaborate with Zeal Environmental Technologies to efficiently operationalise Agency’s Laboratory in Takoradi...

119 foreign nationals arrested for entering Ghana illegally

A total of 119 Economic Community of West African States (ECOWAS) nationals have been arrested for entering Ghana through unapproved routes. The illegal travellers included...

FDA registers more local products amid COVID-19

Despite the negative impact of COVID-19 on the economy in 2020, the Food and Drugs Authority (FDA) registered more locally-made products than in 2019. In...

GBC, UESD collaborate to promote science programmes

The Director-General of the Ghana Broadcasting Corporation (GBC), Professor Amin Alhassan says the Corporation is committed to using its resources to support the development...

NABCO trainees yet to receive December stipend

Three weeks into 2021, Nation Builders Corp, NABCO, trainees are yet to receive their stipend for December 2020. Speaking to GBC NEWS in Bolgatanga, the...

More Articles Like This