Executive Chairman of the McDan Group of Companies, Dr. Daniel McKorley, has expressed concerns about the execution of the government’s flagship initiative, One District One Factory (1D1F).

He believes that while the program is a commendable idea, it would have been more effective if the private sector had been given full responsibility to ensure its long-term sustainability and success.

“One District One Factory (1D1F) is one of the brilliant ideas that this government came up with, but the implementation was wrong and I questioned it,” he said on Joy FM’s Super Morning Show on Wednesday.

He emphasized the vital role of industry in any economy, pointing out that it creates significant employment opportunities.

Dr. McKorley stated that for the One District One Factory (1D1F) program to achieve real success, it should be managed as a business venture, led by private sector skills and entrepreneurial spirit.

“If you look at our economy, what we need is industries. Industry is a whole chain that creates lots of jobs,” he said, emphasizing the importance of industrial development.

Dr McKorley suggested that the government should establish an Advisory Board composed of seasoned entrepreneurs who can provide valuable guidance on the viability of proposed projects under the policy.

This board, he believes, could offer crucial advice to prevent failures and ensure the success of the initiative.

“With the 1D1F, it is supposed to be left for the private sector, and an Advisory Board of people who have made it can advise and say ‘If you go here, you will fail,’” he proposed.

He further argued that private sector involvement is essential for protecting and sustaining the businesses created under the 1D1F policy.

Dr McKorley stressed that entrepreneurs with a vested interest in the industry would be more motivated to ensure the long-term success of these factories.

“1D1F needs to be run as a business. So put it in the hands of the private sector and they would protect the business."

The One District One Factory (1D1F) initiative, introduced by President Akufo-Addo, aims to shift Ghana's economy from reliance on raw material imports and exports to a focus on manufacturing, value addition, and the export of processed goods.

The policy also seeks to assist the private sector in establishing at least one industrial enterprise in each administrative district across the country.

As part of the government’s broader strategy, the One District One Factory (1D1F) initiative is intended to revitalize the country’s industrial sector and enhance the capabilities of local businesses to produce high-quality products and services for both domestic and international markets.

However, the impact of this policy on the industry and the general population has yet to be fully realized.