1D1F: President Akufo-Addo Commissions $30 Million Factory At Ningo Prampram
President Nana Akufo-Addo has commissioned the Atlantic LifeSciences Ltd, a
company operating under government’s 1-District-1-Factory
initiative.
Speaking at the commissioning, President Akufo-Addo stated
that the ceremony "is in further fulfilment of the promise by Government, in partnership
with the private sector, to set up at least one medium to large scale enterprise in
every district of Ghana".
According to the President "Whilst previous attempts at
rural economic revitalisation in Ghana have focused mainly on the provision of physical
infrastructural facilities, the One-District-One-Factory Programme focuses on the
promotion of commercially viable business ventures, to generate sustainable and
accelerated economic development for rural communities".
He stated
that Atlantic Lifesciences Ltd., with the support of
Government in 2017, has established this new facility in the healthcare sector,
engaged in the manufacture of vaccines, anti-snake serums, eye drops, inhalation
anaesthesia products, syrups, tablets, and capsules, in Larkpleku, under the One
District One Factory (1D1F) Programme. "It is the one hundred and seventh
(107th) factory completed and operating under the 1D1F initiative, out of the two
hundred and seventy-eight (278) enterprises being established and rehabilitated across
the country, and I congratulate the promoters and management of the company for taking
advantage of this Programme", he said.
President Akufo-Addo was happy to note
that the Ministry of Trade and Industry, in collaboration with Ghana EXIM Bank and
Standard Chartered Bank, has since 2017 supported this company to benefit from the 1D1F
Programme.Out of the total investment for the project, which is estimated at thirty-five
million dollars (US$35 million), Ghana Exim Bank provided a credit facility to the tune
of ten million dollars ($10 million) for the procurement of plant, equipment, and
machinery. This, according to the President, underscores the kind of support given by
Government to the private sector to take advantage of economic opportunities in the
country.
President Akufo-Addo was pleased to learn that "this new factory is
generating some three hundred and eighty (380) direct jobs, and, when fully operational,
will generate additional direct employment for some four hundred (400) workers. In
addition, the facility is expected to create a total of two thousand, five hundred
(2,500) indirect jobs".
He commended the collaborative work, between the
Ministry of Trade and Industry, Ministry of Health, Ghana Exim Bank, Standard Chartered
Bank, Food and Drugs Authority, Traditional Authorities, and foreign partners of the
company, for providing the requisite support towards the establishment of the
state-of-the-art manufacturing facility.
