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Electrochem to employ 7,000 youth for salt project
Dr Mckorley speaking at the official opening of Electrochem
Over 7,000 Ghanaian youth will be employed next year when the Electrochem Ghana Limited Songor Salt Project becomes fully operational.
Currently, 3,000 persons have been employed for the first phase of the project with 4,000 more expected to be engaged when the salt concession hits full operations in 2024.
This was disclosed by the Chief Executive Officer (CEO) of the McDan Group, Dr Daniel Mckorley at the commissioning of Electrochem’s Salt Mine and Processing Plant at Ada in the Greater Accra Region last Wednesday.
The commissioning, which was performed by the President, Nana Addo Dankwa Akufo-Addo, would make Electrochem the hub for salt production in Africa.
The President commended Dr McKorley and Electrochem for harnessing the full potential of the songor lagoon.
“This is the first time in the history of Ghana that an indigenous Ghanaian businessman owns one of the biggest salt refineries in Africa,” he said.
He said Ghana could supply Nigeria and other parts of the world with salt and the importation of salt from Europe would become a thing of the past.
“Nigeria is currently importing two billion worth of salt from Brazil annually and gradually Ghana could be able to provide the neighbouring country and other countries with salt,” he said.
“Producing two million metric tons of salt a year will be the biggest salt concession in Africa and the government is committed to supporting the company to succeed,” he stated.
He thanked the Paramount Chief of Ada, Nene Abram Akuaku III and the people of Ada for their support and urged them to become stakeholders of the project.
Electrochem, a subsidiary of the McDan Group had been granted a 15-year lease to transform the Ada Songor salt concession which hitherto was left to deteriorate due to mismanagement.
The concession which has been in existence for over 54 years, was left in the hands of the locals but the government in 2020, following a diversification agenda to utilise natural resources and rely on public-private partnerships to transform the economy, gave the lagoon to Electrochem for development.
Dr Daniel McKorley said the concession has been transformed in two years and would provide jobs for the local people and ultimately boost the economy.
Currently, he said the company was producing 650,000 metric tons of salt and would move to a million metric tons next year and two million by 2025.
“This is only the first phase of the project and by the time we are done with the refinery and other sections, we could lead the industrialisation drive of the country, by providing jobs to boost the economy,” he stated.
He said, a chemical university to drive industrialisation in Ghana would also be built after the final phase.
The commissioning brought together dignitaries including the Minister of Lands and Natural Resources, Samuel Abu Jinapor, the Greater Accra Regional Minister, Henry Quartey, Minister of Trade and Industry, Mr K.T Hammond as well as executives from the Ghana Association of Industries, Chamber of Commerce, the Environmental Protection Agency and Ecobank.
By Michael D. Abayateye
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
