MIIF mulls investment in Ada Songhor Salt project

producing areas in the Greater Accra and Central regions of Ghana”.

The CEO of MIIF, Mr. Koranteng further stressed that “Salt is an in nite resource with over 14,000 uses. At full potential and with such expansive usage, salt in Ghana has the potential to earn circa $500 Million a year in foreign exchange with Nigeria and the sub-region as priority markets.

Salt as a raw material covers the pharmaceuticals, food processing, oil and gas, food preservation, production of caustic soda, the textiles industry, mining, road maintenance, hospitals and hospitality sectors which all require high grade salt to support the manufacturing of inputs or processing.

This is the reason why MIIF is excited about this opportunity for Ghana and is currently working on a broad-based investment which would include a listing of the project on the Ghana Stock Exchange”.

The scale of the Ada Songhor salt project also presents opportunities for two export jetties to facilitate export and other lake transport opportunities, create massive employment in the producing areas and substantially revitalize the local economies.

In accordance with MIIF’s investment strategy to ensure that all major investments are listed on the Ghana Stock Exchange, the Chief Executive O cer of MIIF, Edward Nana Yaw Koranteng conrmed that Electrochem has agreed to list on the Ghana Stock Exchange as a condition for MIIF’s investment.

Mr. Koranteng stated that, “Investing in salt is part of our mineral diversi cation strategy in line with President Nana Akufo-Addo’s charge to MIIF, to ensure that we create Ghanaian business champions while at the same time creating opportunities along the value chain and on the capital markets for Ghanaians to directly have the chance to invest in such companies”.

The Managing Director of the Ghana Stock Exchange Ms. Abena Amoah who is also a member of the Investment Advisory Committee (IAC) of MIIF said; “What I have come to see here, really warms my heart.

A great company is underpinned by the quality of the asset. We can become Africa’s number one salt producer, the sea never dries, the technology exists to mine the salt, the market for salt is not in doubt and with some ringfencing and