President Akufo-Addo has revealed that the Electrochem salt mine and processing plant will be the biggest salt producing facility in the entire continent of Africa.
Speaking at the commissioning of the salt mine and processing plant in Ada today, August 30, 2023, the President expressed his appreciation for the establishment of the facility in the country. He revealed that for the New Patriotic Party, the primacy of the private sector in the development of the national economy is fundamental.
President Akufo-Addo indicated that it is the very basis of the party’s economic philosophy, and it has been so for the last 70 years. He explained that the NPP has never wavered in its belief in giving an enabling environment for private businesses to thrive.
Moreover, he noted that the ingenuity and sense of enterprise of the Ghanaian, will enable the government to build a strong, powerful economy which will deliver a good, dignified standard of living to Ghanaians.
“With its current ability to produce some 650,000 metric tonnes of salt per annum, in expanding its production capacity to one million metric tonnes in 2024, into two million metric tonnes by 2027, the Electrochem salt mine will be the biggest salt producing facility in the entire continent of Africa…”
President Akufo-Addo
Moreover, Akufo-Addo indicated that as an advocate for value addition activities since he came into office in 2017, there is evidence in his government’s implementation of ‘One District, One Factory’ policy. To this end, he noted that he is delighted that Electrochem is in the process of constructing a salt refinery in addition to a port for the purpose of exporting refined salt products to the wider African market.
“… I’m confident that the expected revenues of some $1 billion to the company, will be considerably surpassed. For a project of such magnitude to thrive, it will need the support and backing of not only government, but also of the chiefs and people of the community. To this end, I want to extend the appreciation of the government and people of Ghana to the paramount chief of the Ada traditional area…”
President Akufo-Addo
Electrochem salt mine and processing factory
Furthermore, President Akufo-Addo emphasized that the Electrochem salt mine is one of the examples of what a governmental policy backed by strong private participation can achieve. He explained that for some 54 years, successive governments have tried without success to harness the full value of the Songhor lagoon.
Nonetheless, he expressed satisfaction that under his government, the Songhor lagoon is being brought into full production for the benefit of the residents of Ada and the citizens of the entire nation.
“This is the first time in history that an indigenous Ghanaian businessman owns one of the biggest extractive industries in Africa. He is a shining example of what determination and perseverance can produce. In the run up to the 2008 elections, I was startled at a news report which suggested that the federal republic of Nigeria was in the process of importing $2 billion worth of salt from Brazil…
“Think with me for a moment about the prospect of Ghana selling $2 billion worth of salt to Nigeria annually, and the ripple effects such a simple commodity which Nigeria and indeed, many countries in West Africa import from other continents, can have on our economy.”
President Akufo-Addo
Meanwhile, President Akufo-Addo highlighted that government is determined to make the country an example of rapid economic growth within the context of a well-developed market economy, where the private sector does not only survive, but accordingly thrives.
“I want to reiterate that not only is Ghana the best place for doing business in West Africa, but she is also the preferred destination for perfect blend of mineral resource potential, stable regulatory environment, favorable fiscal regime and socially responsive mining in Africa. In spite of our present challenges, I maintain that it is an exciting time to be in Ghana and do business in the country…”
President Akufo-Addo
READ ALSO: We Have Been Tricked, Nothing Special About PFJ Phase Two – Minority
