President Akufo Addo has been granted a US$ 100 million grant by Universal Merchant Bank for the support of his one-district-one-factory policy, the Alhajj Newspaper reveals.
The bank, which is owned by brother of former president, Ibrahim Mahama, reveals that the policy of planting a district in every district best shares into its dream of investing in the public sector for future gains. The grant was paid by board directors of UMB Bank led by board chairperson, Betty Zormelo last Thursday.
Meanwhile, authorities of the bank have registered their interest of fully supporting the policy. “The president’s vision of one district one factory fits directly into our long term plans as a bank. We have an elaborate and a comprehensive long term plan that had a component of partnership with government sectors. Being the bank of choice for public- private arrangement, when we heard of the one district one factory, we said this is an opportune time to tap into the strategy and bring forward few of the pillars that we have said will come in the course of time,” MD of the bank, John Amuah revealed.
The one-district-one-factory policy by government is documented to have had close to a hundred businesses register their interest of investment – a development the trades minister, Alan Kyeremanteng says is indicative the private is confident in the policy.