The government’s one district, one factory policy, according to Alhassan Mutawakilu, a financial analyst with Dalex Finance, is not having any impact.
He claims the project is nothing more than a plan to give money to friends, relatives, and associates.
Mr. Mutawakilu was commenting on the Finance Minister’s recent remarks regarding the steps taken by the government to halt the free decline of the cedi versus the US dollar.
He stated that; ” there are two fundamental reasons why the cedi is weakening, but that ours is in a very difficult position since our case has been made worse by the fact that we have lost access to the foreign capital market,”
“We should sell more so that we may generate some foreign currency, but we choose to import more instead,”
Even though the nation declared a trade surplus the previous year, Mr. Mutawakilu said that the industry is dominated by foreigners, meaning that our nation is not reaping the benefits.
“We need to come up with long-term answers to our issues. Ghanaian firms and the government started working on the One-district One-factory program, but I’m sad to tell you that it is not producing results because they are handing money to loyalists,”
“We need to increase local exports by Ghanaian industries, it is nothing more than a ruse to gift money to friends, relatives, and associates. That explains why it is not producing any outcomes. Let me ask you a question: How much of our export has increased or how much of our import has decreased as a result of the one-district, one-factory policy? Is not going to work,” Financial Analyst stated.