48 companies benefit from Gh¢14m Exim Bank facility under 1D1F not 60 companies– KT Hammond clarifies
48 companies benefit from Gh¢14m Exim Bank facility under 1D1F not 60 companies – KT Hammond clarifies
Contrary to earlier reports, Minister of Trade and Industry K.T. Hammond stated that a total of 48 companies, not 60, have received support through the Ghc14 million Exim Bank facility.
The 1D1F program aims to assist the private sector in establishing at least one manufacturing enterprise in each of the country’s 261 districts.
Previous reports indicated that 48 companies had been supported under the 1D1F initiative. However, the Minister of Trade and Industry, K.T. Hammond clarified in an interview on the Citi Breakfast Show that the 48 companies specifically refer to those who have been assisted through the Exim Bank facility.
He further explained that there had been some confusion regarding the number of companies due to a miscalculation by the Exim Bank.
Initially, it was believed that 60 companies had received support, but upon closer examination, it was determined that the correct number was 48.
“We are talking about companies whose activities have been facilitated by the Ministry under the 1D1F programme, that is not 60 or 48 that is in the region of 296. But the question that I answered yesterday was that some money that had been disbursed through Exim Bank, previously Exim Bank had indicated that the number of companies on their list would look like 60, and my predecessor had to report in Parliament that the number of companies that had been helped was 60.
“We were then asked in Parliament to clarify the specific amount of each of the companies involved. We checked that with the Bank and then they came back and said there appears to be some miscalculation and it really wasn’t 60 but it was actually 48.”
The primary objective of the 1D1F program remains to support the private sector and promote the establishment of manufacturing enterprises in all districts across Ghana.
