Saturday, 02 August

1D1F: 58 of 287 developed as youth-owned enterprises – Akufo-Addo

Business
A fertiliser factory under 1D1F

President Nana Akufo-Addo has told parliament in his 2022 State of the Nation Address on Wednesday, 30 March 2022 that “through the 1D1F initiative, the made-in-Ghana label is being stamped on a wide range of products proudly manufactured in Ghana”.

Mr Akufo-Addo said out of a total of 278 1D1F projects at various stages of implementation in all the 16 regions, 106 factories are currently operational, 148 are under construction and 24 projects are at the mobilisation stage.

“Mr Speaker, in order to bring the youth on board the 1D1F Programme, 58 out of the 278 1D1F projects have been developed as enterprises fully owned by youth groups, with direct government support”, he announced.

He said each of these 1D1F youth companies is owned by between 40 and 50 youth as shareholders.

In addition, the President said five medium-scale state-of-the-art agro-processing Common-User Facilities (CUFs) have been established with direct support from the government and are owned by various groups of farmers, whose farming operations had previously been undermined through lack of processing facilities.

“These farmer-owned companies have been established in five Districts, namely Dormaa West, Savelugu, Sefwi Akontonbra, Sekyere Central and Tarkwa Nsuaem”.

“They cover oil palm processing, rice milling and the processing of maize into maize grits”.

 

 

Source: Classfmonline.com