In 2021, the Ministry of Finance initiated procedures to obtain tax exemptions of roughly $335,072,712.13 for approximately 42 enterprises in accordance with the government’s One District One Factory policy. Former Finance Minister Ken Ofori-Atta introduced the Exemptions Act, 2022 (Act 1083) in Parliament in 2022.
The complete list of the 42 businesses waiting to receive exemptions is provided below; Sentuo Oil Refinery Limited, a recently formed company, has the largest amount at $164,633,012.00.
President Nana Addo Dankwa Akufo-Addo envisions the One District One Factory (1D1F) project as a means of shifting Ghana’s economy away from a reliance on the import and sale of raw materials and towards manufacturing, value addition, and the export of processed commodities. According to President Akufo-Addo, the project is spearheaded by the business sector. The government sets up the conditions that are required for companies to be able to obtain financing from banks and other government bodies for the establishment of factories.
