GH¢207m 1D1F cash ‘missing’ – Minority

The Minority in Parliament has said some GH¢207 million of GH¢508 million earmarked for de-risking One District-One Factory loans cannot be accounted for.

According to the Minority, Ministry of Trade and Industry, which is in charge of the program, said GH¢2.69 billion in loans has been given to the 1D1F program.

Ellembelle MP Emmanuel Armah Kofi Buah told journalists that “we are asking the ministry that we will need the names of the banks and the names of each of the companies as well as the amount every company has taken”.

“Initially, the ministry said it will take some time for them to get these documents”.

“They dragged it and finally they brought us the list of the banks with the names of the companies and the amounts”.

“We insisted that without that we will not approve their budget,” he explained.

He added: “We finally got that report this morning. Unfortunately, the ministry was unable to account out of the GH¢269 million loans given to the banks”.

“The ministry was only able to account for GH¢62,281,484.29; what it means is that a total amount of GH¢207,407,899 has not been accounted for. In other words, that amount, as far as we are concerned, is missing”.

“It is important that the press and the people of Ghana take interest in this matter, and the minister at the helm of affairs, the Hon. Alan Kyerematen must come clean to the people of Ghana to explain where the amount of GH¢207,407,899 to de-risk these loans to One District-One Factory is.”