First Lady commends Chinese company for committing $2billion to 1D1F

By Lydia Kukua Asamoah, GNA

Accra, Nov. 29, GNA – The First Lady, Mrs Rebecca Akufo-Addo, has commended the China National Building Materials Equipment Imports and Exports Company Limited (CBMIE) for committing to inject two billion dollars Supplier’s Credit into the One District One Factory (IDIF) initiative.

The First Lady noted that Ghana currently needed crucial investors like CBMIE because that was one of the surest ways Ghana’s current developmental aspirations could be achieved.

She called on the group to ensure they go the extra mile to make investment opportunities available to women entrepreneurs.

Announcing the facility at a meeting with the First Lady and her delegation of Ghanaian business women leaders and entrepreneurs in China, the President of CBMIE, Mr Chen Yongxin, said the facility was being made available to Ghana because the country was a preferred destination to do business in Africa.

He said he had tremendous confidence in the Government of Ghana to improve on the living conditions of the people through the 1D1F initiative.

Mr James Asare-Adjei, the President of the Association of Ghana Industries (AGI), called on the Ghanaian Business Community, both at home and abroad, to position themselves well to benefit from the initiative considering the facts that all districts across the country would be benefiting from, at least, one medium or large scale factory.

Explaining how the Supplier’s Credit Facility was going to run for interested individuals and businesses, Mr Asare-Adjei said the projects would have to be built on turn-key basis and would require local investors to provide at least 15 per cent of the investment required before the facility would be available to them.

He said the AGI saw the initiative as an investment opportunity and was, therefore, partnering with the CBMIE and banks such as the GCB, Exim, and Fidelity to ensure that people with business ideas were supported to realise their dreams.

Mr Edward Boateng, Ghana’s Ambassador to China, commended the CBMIE for the bold steps taken to invest in Ghana, saying: “The government would ensure that you were not disappointed in any way.”

He called on the Business Community in Ghana to take advantage of the initiative saying; “It would act as the catalyst that would catapult the country into its desired development levels.”

Accompanying the First Lady were Professor Kwesi Yankah, the Minister of State in-charge of Tertiary Education, Mrs Stella Ennin, the Director of the Crop Research Institute, and Dr Millicent De-Graft Johnson, a Director at the Ministry of Finance.

GNA

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