PROCEDURE FOR 1D1F
About the initiative • The One District One Factory (1D1F) initiative was instituted by His Excellency, President Nana Addo Dankwa Akufo-Addo, to address the challenge of slow economic growth at the district level. “ • The initiative aims to achieve this through a massive private sector led nationwide industrialisation drive, which will equip and empower communities to utilise their local resources in manufacturing products that are in high demand both locally and internationally. • This will allow the country to reap the rewards of industrialisation, increase agricultural and manufacturing output, reduce reliance on imports and increase food availability. • The programme is expected to facilitate the creation of between 7,000 to 15,000 jobs per district and between 1.5 million and 3.2 million jobs nationwide by end of 2020
Application Assessment & Approval Process
Confirmation of Receipt of Application via phone or email.
This is to establish initial contact and assure applicants, that their applications have been received by the Secretariat. This will also be a means of confirming applicants contact channels.
Initial Screening & Due Diligence
This is to determine whether the Secretariat would be able to assist the applicant with the requested support. This starts with making an appointment with applicant for a face-to-face interview. The applicant will be given a list of documents to present on or before the interview. The interview is based on our wide-ranging due diligence checklist. Where necessary, the face-to-face interview is used to assist applicants complete the required information. The essence of this interview is to assess the applicant’s business model, ability to generate cash flow and repay loan, experience, entrepreneurial flair, management style, project management skills, professional and ethical conduct, credibility, commitment, etc.
On-Site Due Diligence
An onsite due diligence is conducted to assess the environment and social impact of project to be funded.
Once all the information is collated the application is assessed per the applicant’s credit history and the business’ ability to generate cash flow and repay the loan in both quantitative and qualitative aspects. Quantitative aspects relate more to the business’ financial performance. Qualitative factors considered include enquiry into the management’s technical expertise and experience, existence of market for the goods or services, competition and market conditions. Also, to be considered during the assessment process is capital the applicant puts toward the proposed project. In cases where it is deemed necessary, collateral requirements will be considered.
The Secretariat relies on Technical Advisors and the Approval Committee to adjudicate requests for funding. The approach allows for an in-depth consideration as well as a forward-looking approach to funding requests.
Compilation of Reports
Once all the information has been assessed, a credit report is compiled for consideration by the Approval Committee.
The Approval Committee sits weekly to consider and approve applications.
Contracting and Disbursement
Once application has been approved by the Committee, applicant is contacted for contract signing. Credit is extended through our partner financial institution.
HOW TO APPLY
IMPORTANT NOTES Before proceeding with this application, kindly read through the notes below. 1. For applicants with existing businesses, kindly enclose a copy each of your Certificates of Incorporation and Commencement of Business. 2. Once complete, please return application form and all required documents to email@example.com
Alternatively, you may email the completed form in the same Microsoft Word format in which it was downloaded, to firstname.lastname@example.org.
Please enter ‘ONE DISTRICT ONE FACTORY APPLICATION’ in the SUBJECT line of the email. 3. The deadline for receipt of your application for this stage is 30 days. Any applications received after this date will not be accepted. 4. You may be contacted by a representative of the One District One Factory Programme Secretariat to provide further information so please reconfirm that the contact mobile number, email and physical addresses entered on the form is correct. The contact email, physical and postal addresses entered on the form will be the addresses used for all communication once your application has been processed.
The Secretariat is able to complete the entire process in 10 days from the date all the information is furnished by the applicant and due diligence is complete.
The forms are available on the website.
Information resource credit – Ghana Investment Promotion Center (GIPC)