As of June 2023, the implementation of the One District One Factory (1D1F) initiative in Ghana has resulted in the establishment of 126 operational factories nationwide, leading to the creation of 160,000 job opportunities. The initiative is part of the government’s unwavering commitment to industrialization and economic growth.
During the presentation of the 2023 Mid-Year Budget Statement and Policy Review to Parliament in Accra, Mr. Ken Ofori-Atta, the Minister of Finance, provided an update on various government programs. These programs include the IMF-supported Post COVID-19-Programme of Economic Growth (PC-PEG), which aims to achieve structural reforms and quantitative performance criteria.
In addition to 1D1F, the government has introduced flagship programs like Planting for Food and Jobs (PfJ) – Phase II, Strategic Anchor Industries, Infrastructure for Poverty Eradication Programme (IPEP), GhanaCARES, YouStart, and Agenda 111. These initiatives address different sectors and have been crucial in mitigating the impact of economic challenges and fostering growth.
The Planting for Food and Jobs program has significantly improved Ghana’s agriculture sector, leading to enhanced food security, increased employment opportunities along agricultural value chains, and improved accessibility to raw materials for industries. Major food staples, such as maize, rice, and soya, have experienced substantial increases in crop yields within the program’s duration.
The GhanaCARES “OBAATAN PA” program focuses on promoting commercial agriculture, technological capability, and digitalization. Efforts to establish “growth poles” in key locations through the Economic Enclaves Project (EEP) are ongoing. The EEP provides agriculture infrastructure and land development support to entrepreneurial youth and the private sector. Ancillary services, such as housing, training facilities, irrigation canals, farm roads, and electricity, are being provided to enhance production and value-addition in these enclaves.
Furthermore, the YouStart initiative has played a vital role in supporting young entrepreneurs by offering business advisory support services and facilitating access to soft loans. Over 26,000 individuals across the country have received entrepreneurial skills and mentoring services through this program.
The government’s commitment to achieving economic growth and fiscal consolidation remains steadfast, as outlined in the 2023 Budget. The various programs and initiatives discussed in the Mid-Year Budget Statement demonstrate the government’s proactive approach to address economic challenges and drive the country’s recovery process.
