Business Hilights
Tracking Nigeria's Headline Business News Online

Ghana kicks off industrial clusters, releases $1bn for listed 80 mixed investors

To deepen sustainable industrial development across every region of Ghana in view of massive job creation, the Ghanaian Deputy Minister of Information, Mr. Perry Curtis Okudzeto, on Wednesday, announced the allocation of GH¢456m (about $1bn) to support private sector in driving new policy of ‘One-District-One-Factory’ scheme.

But in Nigeria, it appears that the Ministry of Commerce, trade and Investment may have foregone the speed it was applying in the campaign for industrial clusters across the federation since the emergence of recession as nothing has been said or heard on the scheme in the last six months.

Business Hilights recalled that at the peak of the campaign for investors to drive the industrial clusters, Manufacturers Association of Nigeria (MAN), raised an issue, saying paucity of power and high interest rates by banks will not allow the scheme to survive.

However, in Ghana, the Information Minister disclosed that government is serious with the drive as the Ministry of Trade and Industry has approved 80 local and international investors ready to be engaged under the new project.

Explaining issues at a town hall meeting organised by the Sunyani West District Assembly at Odumase, which offered opportunity for the people to interact with the Assembly, Okudzeto said government had set up a separate unit at the Ministry of Trade and Industry and is working out modalities to identify areas to site the factories.

According to him, government had received 350 applications from local and foreign investors which are ready to partner the government for the implementation of the project.