Agricultural Development Bank (ADB) has been awarded the One District, One Factory (1D1F) Financial Service Provider of the Year at the 2021 Ghana Manufacturing Awards (GMA), held at the Kempinski Hotel, Gold Coast City, in Accra.
The honour affirms the bank’s support to businesses under the government’s flagship industrialisation programme, which seeks to build or revamp a factory in each district in the country for sustainable job creation and also to take advantage of the African Continental Free Trade Area (AfCFTA) agreement.
Since the launch of the 1D1F initiative in 2017, the bank has supported about 20 companies with over GH¢100m in the areas of agro-processing, aquaculture, poultry, construction, and manufacturing.
The Managing Director of the bank, Dr. John Kofi Mensah, expressed his excitement about the award and said the bank was ready to support companies with all the needed financial support, especially in the area of agribusiness.
“We are proud to be the winner of this award. We have been a key supporter of 1D1F since its inception, and this award goes to show that our efforts have been duly recognised. Being an agribusiness-focused bank, we take particular interest in the area of agribusiness since it is an area that goes beyond just job creation but also [ensures] food security.”
He added that the bank has a dedicated desk for the 1D1F programme, and all proposals are properly scrutinised to ensure the companies and the projects to be embarked on are sustainable and will create jobs for the youth. The awards programme, which was on the theme “Leveraging on AfCFTA; the role of 1D1F”, saw 28 outstanding companies and individuals from different sectors awarded for resilience, transformative initiatives, and excellence.
Minister of Trade and Industry Alan John Kyerematen, in a speech read on his behalf as the guest of honour, stated that government’s comprehensive industrial transformation programme, initiated since 2017, is on course to making the country a leading manufacturing hub in Africa.
He said 232 1D1F factories in 154 districts are at various stages of implementation, which includes 64 existing companies and 162 new companies.
He urged manufacturers and business people to take advantage of the various trade opportunities, including the AfCFTA, to maximise their gains and scale up production to create more jobs and boost economic growth in the country.
He added that government is determined to ensure that indigenous manufacturing companies take full advantage of the AfCFTA.