The Ministry of Finance in 2021, began processes to secure approximately $335,072,712.13 tax exemptions for some 42 companies under the government’s One District One Factory initiative.

The Exemptions Act, 2022 (Act 1083) was laid in Parliament by the former Minister for Finance, Ken Ofori-Atta, in 2022.

Below is the full list of the forty-two companies awaiting to benefit from the exemptions, with newly established Sentuo Oil Refinery Limited having the highest figure of $164,633,012.00

The One District One Factory (1D1F) initiative is the vision of President Nana Addo Dankwa Akufo-Addo to change the nature of Ghana’s economy from one which is dependent on the import and export of raw materials to one that is focused on manufacturing, value addition and export of processed goods.
The initiative, as proposed by President Akufo-Addo, is private sector-led. The government creates the necessary conducive environment for businesses to access funding from financial institutions and other support services from government agencies to establish factories.

BY : BISMARK OKYERE ASANTE

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