By In 2021, the Ministry of Finance initiated steps to obtain approximately $335,072,712.13 in tax exemptions for 42 companies as part of the government’s One District One Factory initiative.
The Exemptions Act, 2022 (Act 1083), was presented to Parliament by former Finance Minister Ken Ofori-Atta in 2022.
Below is the complete list of the forty-two companies awaiting exemption benefits, with the recently established Sentuo Oil Refinery Limited topping the list with $164,633,012.00.
The One District One Factory (1D1F) initiative represents President Nana Addo Dankwa Akufo-Addo’s vision to transform Ghana’s economy from one reliant on importing and exporting raw materials to one centered on manufacturing, value addition, and exporting processed goods.
President Akufo-Addo’s proposal positions the initiative as private sector-led. The government’s role is to foster an enabling environment for businesses, facilitating access to funding from financial institutions and providing support services from government agencies to establish factories.
