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$335m Tax Waiver Request: List of 42 beneficiary companies

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In 2021, the Ministry of Finance initiated steps to grant tax exemptions totaling an estimated $335,072,712.13 for 42 enterprises as part of the government’s One District One Factory program.

The Exemptions Act of 2022 (Act 1083) was presented to Parliament by the then Finance Minister, Ken Ofori-Atta, in the following year.

The comprehensive list of the forty-two companies poised to receive these tax exemptions includes the recently formed Sentuo Oil Refinery Limited, which stands to gain the most substantial exemption amounting to $164,633,012.00.

WhatsApp Image 2024 05 20 at 08.43.21 cc119331 Channel1 News $335m Tax Waiver Request: List of 42 beneficiary companies
WhatsApp Image 2024 05 20 at 08.43.21 38c6155c Channel1 News $335m Tax Waiver Request: List of 42 beneficiary companies

The One District One Factory (1D1F) initiative is the vision of President Nana Addo Dankwa Akufo-Addo to change the nature of Ghana’s economy from one which is dependent on the import and export of raw materials to one that is focused on manufacturing, value addition and export of processed goods.

The initiative, as proposed by President Akufo-Addo, is private sector-led. The government creates the necessary conducive environment for businesses to access funding from financial institutions and other support services from government agencies to establish factories.

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