A communicator of the New Patriotic Party (NPP), Kwame Apenteng, has advised Ghanaians to support the 1 district 1 factory (1D1F) initiative to reduce the high inflation rate the country is currently battling with.
Speaking on Ghana’s current inflation rate on Movement In The Morning Show with Kwaku Dawuro, Mr Apenteng urged Ghanaians to champion industrialization to reduce importation.
In his submission he said, ”we had a vibrant economy where industrialization was at its peak- most of the things we consumed were locally made. ‘Don’t touch me soap’ for instance was a local soap that was used in almost every home in the country, but we don’t see it anymore. Even the mattresses we used to sleep on were locally made. Now we import mattress and other things that we could have produced here in Ghana. If we produce what we consume, we will contribute to reducing the high rate of inflation. Embracing the 1D1F is the best way to go as it will cut down inflation’’.
He advised government to introduce a standardized pricing system to manage the product prices in the market for economic destress.
About 1 District 1 Factory Initiative
The One District One Factory (1D1F) initiative is the vision of His Excellency the President, Nana Addo Dankwa Akufo-Addo to change the nature of Ghana’s economy from one which is dependent on import and export of raw material to one which is focused on manufacturing, value addition and export of processed goods. These raw materials are largely found in the districts which would have otherwise gone waste.
The initiative as proposed by His Excellency Nana Addo Dankwa Akufo-Addo is private sector led. Government creates the necessary conducive environment for the businesses to access funding from financial institutions and other support services from Government agencies to establish factories. Ghanaian entrepreneurs will thus own the companies, operate them and bear all the risks and rewards of the projects.
Ghana currently has 78 local factories.
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