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BUSINESS NEWS | GHANA AND BEYOND

President Akufo-Addo has officially commissioned New Okaff Industries Limited in the Ashanti Region, an industry operating under Government of Ghana’s One- District-One Factory initiative. New Okaff Industry which has about 200 employees and a production capacity of 5000 litres of AF Confidence per day, will manufacture soaps, sanitizers and detergents. It will as well produce anti-snake repellent, organic fertilizers and agrochemicals to enhance the work of farmers in the country. Commissioning the factory on yesterday, December 3rd, 2020, on day 3 of his 3-day tour of the Ashanti Region, the President stated that the One District One Factory (1D1F) initiative is in fulfilment of a 2016 campaign promise, whose aim is to establish, together with the private sector, at least one industrial enterprise in each of the administrative districts of the country.

Ghana is expected to deploy freight drone technology in the coming years to facilitate the timely movement of goods within the country. This follows the signing of a Memorandum of Understanding (MoU) between the country’s Aviation Ministry and International Freight Drone (IFD) organisation. IFD is expected to deploy freight drones that are capable of carrying 10-tons of shipping container over 700 kms, and build droneports at various parts of the country. Freight drone technology, when fully developed would help get finished goods and fresh agricultural products from the hinterlands to major towns and cities within minutes.

Over 1,000 victims of the Odawna Market fire will from Wednesday, December 02, 2020, receive a loan of about GH¢2,000 each from government. On Wednesday, November 18, over 3,000 traders had their wares destroyed by fire at the Pedestrian Shopping Mall close to the Kwame Nkrumah Interchange in Accra. The traders, some, who had stocked up new items in preparation for the Christmas season, and others, who had secured loans to run their businesses, lost everything in the fire, and appealed to government for support. Although President Nana Akufo-Addo subsequently directed the National Board for Small Scale Industries (NBSSI) to make available funds to support the affected traders, the Microfinance and Small Loans Centre (MASLOC), on their part, will commence the disbursement of a total loan of GH¢2 million to cater for one-third of these victims.

The District Chief Executive (DCE) of Ada West, Mr Adzoteye Lawer Akrofi believes the ratification of the mining leases to the Ada Songhor Salt Project will alleviate poverty among the youth and women by creating over 600 jobs.
Addressing the press, Mr Adzoteye Lawer Akrofi said poverty which happens to be the biggest problem in the district will be reduced significantly in the area with jobs set to be created for the people.
“The Songhor salt project certainly offers job opportunities to the youth and the women who will sell around and even those who own lands, the value shall be added to the lands and so all sort of jobs will be created,” Mr Akrofi said.
Mr Akrofi added that the Songhor salt project has the capacity of producing 2.3million metric tons of salt annually.
He noted that in the next three years, the project would be able to produce over one million metric tons as compared to the 60 per cent it produces currently.

The initial challenges of the Integrated Customs Management System (ICUMS) has been reduced by about 70 percent eight months into the introduction of the system. Mr Emmanuel Ohene, an Assistant Commissioner of Customs in charge of the Accra Sector Command, said the initial delay that users of the system faced when processing bill of entries for example was a thing of the past. Mr Ohene, who is also the Chairman of the Implementation Team of the Integrated Customs Management System (ICUMS), said it took about two hours to process a pre-manifest declaration once an importer through his or her agent submits documents in ICUMS that were not subject to any queries.

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