Akufo-Addo commissions timber processing factory in Sekyere Afram Plains
The Nana Addo Dankwa Akufo-Addo, on Friday, 11th October 2019, commissioned the Miro Forestry Ghana Limited, in Drobonso, in the Sekyere Afram Plains constituency, in the Ashanti Region, a company operating under government’s 1-District-1-Factory initiative.
The factory, which processes a variety of wood species, is one of the 181 projects that have been selected for implementation by the Akufo-Addo government, through the Ministry of Trade and Industry, under the ‘One District One Factory’ (1D1F) initiative.
Thus far, Miro Forestry Ghana Limited has created 1,100 jobs for the youth of Drobonso, with its main products including rotary veneer, small diameter broom poles, and wood waste.
Additionally, Miro Forestry Ghana Limited has cultivated some 8,500 hectares of different species of trees, and is working towards the acquisition of additional land to increase the number of species under cultivation to 15,000 hectares in Sekyere Afram Plains.
The expansion of the plantation will ensure a sustainable supply of raw materials for the company, with the wood species being cultivated including eucalyptus, gmelina and acacia managium.
The promoter of the factory indicated to President Akufo-Addo that arrangements have already been put in place to install another veneer processing line before the end of this year, and a plywood mill by the year 2020.
The expansion work will significantly increase the number of direct employees of the company, and offer employment to the residents of Drobonso and the surrounding villages to help improve their livelihoods and the economy of the District.
The President encouraged the management of the company to establish their presence in the ECOWAS market, and also take advantage of the African Continental Free Trade Area (AfCFTA) which will be fully operational from July 2020, to export their products to other parts of Africa.
He commended the promoters of Miro Forestry Ghana Limited for making such an investment in the Sekyere Afram Plains District to support the industrial transformation agenda of the government.
President Akufo-Addo reiterated Government’s determination, through the Ministry of Trade and Industry, to collaborate with the private sector to implement a comprehensive program for Industrial Transformation, anchored on Ten (10) Pillars.
These include the One District One Factory (1D1F) Initiative; the One Region, One Park; the Strategic Anchor Industries initiatives; and the National Industrial Revitalization Programme with Stimulus Package among others. These programmes and initiatives are geared towards transforming the Ghanaian economy and position the country as the manufacturing hub for Africa.
1D1F
The implementation of the 1D1F initiative has received significant support from the business community in Ghana, as well as from both local and international financial institutions.
As a show of support to this initiative, eleven (11) local banks have made commitments to support a number of 1D1F projects owned by Ghanaian Business Promoters.
In addition to the above, government has introduced a number of incentives to support 1D1F companies.
These include tax Holidays, Duty Waivers and Interest Rate Subsidy which are to help build the capacities and competitiveness of the 1D1F companies, and to position them for greater productivity and efficiency. In addition, the 1D1F companies have been assigned technical experts to provide free advisory services during the projects’ implementation phase at no cost to the business promoters.