MIIF partners with GSE to list Electrochem Ghana Limited … spearheading Ghana’s salt industry advancement

The Minerals Income Investment Fund (MIIF) is embarking on a strategic collaboration with the Ghana Stock Exchange (GSE) to facilitate the listing of Electrochem Ghana Limited, an indigenous salt mining company, CEO Edward Nana Yaw Koranteng has revealed. 

This landmark initiative underscores MIIF’s commitment to fostering indigenous industrial development and bolstering Ghana’s position as a leader in Africa’s salt industry.

Speaking in an interview on the sidelines of this year’s Investing in African Mining Indaba in Cape Town, South Africa, Mr. Koranteng said “So we are just about injecting initial investment of about US$30m and we working with the Ghana Stock Exchange in ensuring that that company is listed on the GSE as well, so this is very exciting for us because it puts Ghana at the forefront in Africa when it comes to industrial salt.”

At the forefront of MIIF’s investment portfolio lies the Ada Songor Salt project, a monumental 41,000-acre industrial salt complex spearheaded by Electrochem Ghana Limited. With an initial injection of US$30 million, MIIF is poised to propel the growth and expansion of this groundbreaking endeavor. Crucially, MIIF’s collaboration with the GSE underscores its dedication to enhancing transparency and accessibility in Ghana’s financial markets.

MIIF, a mineral sovereign wealth fund, operates independently despite government ownership, leveraging its expertise to secure equity positions in mining entities both within Ghana and beyond. Events such as the Investing in African Mining Indaba serve as pivotal platforms for MIIF to explore co-investment opportunities and foster strategic partnerships for sustainable growth.

Established in 2017 under Ghanaian law, Electrochem Ghana Limited stands as a testament to indigenous enterprise and innovation. Leveraging over two decades of industry experience, Electrochem is strategically positioned to capitalize on the vast potential of the salt and chemical industries. Through its concession of 41,000 acres at Ada Songor, Electrochem aims to produce 1,000,000 metric tons of salt annually, catering to both local and international markets.

In the medium term, Electrochem plans to significantly augment its output, earmarking a portion for the operation of a chlor-alkali plant to produce caustic soda and other chemical derivatives. This forward-thinking approach underscores Electrochem’s commitment to sustainable growth and diversification within Ghana’s burgeoning industrial landscape.As MIIF and Electrochem forge ahead with their visionary endeavors, they epitomize the spirit of collaboration and innovation driving Ghana’s economic transformation. Through strategic partnerships and prudent investments, they pave the way for a brighter, more prosperous future for all Ghanaians.

By Eugene Davis