Business

GCB commits GH¢1bn for 1-District-1-Factory project

The GCB Bank has committed GH¢1 billion to support companies who want to venture into government’s “One-District, One-Factory” program.

According to the bank, the move is a strong commitment to ensure that all companies with compelling proposals receive funding.

Also, the bank engaged a consultant to help these companies draft proposals with a new unit created to attend to all enquiries regarding the one-district-one-factory policy. The Bank would bear the full cost of the consultancy services of the projects.

The Managing Director of the bank, Anselm Ray Sowah announced to a forum held at the behest of the Ghana Chamber of Commerce and Industry that, “GCB Bank is a recognized leader in SME financing and we shall expand our periodic workshop and clinics to build capacity at our district levels”.

Government also announced that the capacity of investment into its flagship program; the one district one factory policy must be between 1 and 5 million dollars.

This was disclosed by the Trade and Industry minister, Alan Kyeremanten.

Briefing business owners at a forum, the minister said government is ready to sponsor 30 percent of compelling proposals that need support. He added that the policy is to complement, but not compete with other similar initiatives by private businesses across the country.

The day’s forum was on the theme: “Leveraging on the ‘One-District, One-factory’ Policy for Private Sector Growth”.

Source:Starrfmonline.com

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