By Adu Koranteng
Over 30 Small and medium scale to large scale enterprises in the education, Health Manufacturing, Real Estate sectors among others participated in The Africa Regional Journal (TARJ) Forum and exhibition this year, to network and promote their businesses
The event which took place at the MIKADU conference centre and the Fiesta Royal Hotel in Accra, on 22 and 23 November 2019 saw some giant firms like The AIDEC Group,, Pure City International School, Nyarkotey College of Holistic Medicine participating.
Other firms include M&C Group of companies, The Greens Real Estate Company, Iroko TV, Dreams Consult and supplies, Herbal Intervention among others.
The event was under the theme “Promoting Trade and Business investments among African countries”. Addressing participants at the forum, Abraham Kweku Gyasi, Public Relations Officer of the One District One Factory flagship program of the government encouraged participants and small scale business owners to submit business proposals to the secretariat for financial and technical support.
He revealed that the aim of the IDIF secretariat is to stimulate growth and add value to resources produced locally and increase export of locally produced products. According to him, the program has been successful in its quest to industrialize the various districts in the country. The program, he said, is also creating the enabling environment for the private sector’s growth.
“Some companies under the ID1F program are getting as low as 15% and 9% interest on credit facilities which is good compared to what pertains at the market. In addition, government is absorbing all the tax incentives on their operations and equipment to enable them operate freely and grow rapidly, he said.
He indicated that “Companies that benefit are those that source raw materials locally. There are two main businesses that are assisted under 1D1F. These are companies that are already in existence and struggling or doing well but need financial and technical support to expand. The second is Greenfields, That’s companies that are starting afresh. The aim of 1D1F is to create jobs and job avenues in the districts, generate revenue for business owners and government, and facilitate import substitution.”
Mr Gyasi noted that 181 projects have received funding and approval under the 1D1F initiative since it began. According to him, 57 of these projects have been completed, 16 have been commissioned and are operational.
The Vice President of Synergies Institute Ghana, Ogochukwu Inweke urged government to consider imposing heavy taxes on some imported products that could be produced here or banned them whiles encouraging and supporting local firms to produce this products to meet local demand. This he said will boost industrialization and help grow the local economy. He said Nigeria under President Olusegun Obasanjo took similar measures during his tenure and that helped to boost the local rice and poultry industries. That he said encouraged locals and the youth to go into rice and poultry production.
Participants at the exhibition
